Pay out of pocket: Its not ideal, but you could also pay the lender the difference in cash at closing
This is only feasible if you have the extra cash available and you can’t sell later when the market is better.
Request a short sale: If you need to move and owe more than your home is worth, you might consider a short sale. A short sale is when the lender agrees to reduce the balance you owe on the home to help you sell. Lenders are more likely to allow a short sale if they fear you’ll foreclose on the home, so you’ll have to prove hardship to get it approved.
Short sales are usually priced below market value to ensure a quick sale, and your lender may require an all-cash offer so they can get out of the investment as quickly as possible. Read More