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You owe the bank what you owe the bank. If you do not receive enough from the sale you will be up for the difference between what you owe the bank and what you can pay them from the sale of the house.

Bastard of a situation, can`t you sit it out and stay where you are until things pick up, can you afford the repayments at the moment?
If you sell and move out you have to live somewhere and probably pay rent so you, if you can,would be well advised to "ride the storm"

Thank goodness the Australian Reserve Bank has its` hands on the economy, our housing continues to rise all be it a bit slower but no one is in your situation. Good luck.

12 years ago. Rating: 1
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