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Updated over 6 years ago on . Most recent reply

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Reese Davis
  • Raleigh, NC
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37
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How do you sell a house that has 2 mortgages on it??

Reese Davis
  • Raleigh, NC
Posted
So my fiance's dad passed away a few months ago and left the house to her and her brother. They want to sell it but there's 2 mortgages on the house. I believe there's $60K owed total, would have to double check that. It's located in North Raleigh off Six Forks and Sawmill. Similar houses are selling in the area between $170k and $180k. Rents are around $1,300/month. What are their options?? Thanks.

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It’s the same as having one mtg.....you sell the house, the proceeds pay off the mtg(s), owner gets to keep what’s left over.

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