The only way to find the true value of your home is to contact a Realtor who has full access to the MLS records which include SOLDS in your neighborhood during the past few months. This method of finding the value through a Realtor is called a BPO or more commonly known as a CMA. I can provide you with the finest Realtor who will give you this information and who can list your house For Sale when you are ready to Sell.Dick Miller, REALTORRE/MAX Alliance GroupDick@DickMiller-Realtor.com
When you owe more money on the First Mortgage than your house would sell for, that is called a Short Sale. I am a Short Sale Specialist who can walk you through the process from start to finish. I would have to know more about your situation before making a statement. I have three Certifications in Short Sales and have Closed every Short Sale that I have worked on since 2007. A Home Equity Line of Credit is a Second Mortgage. Therefore, your Lenders would have to agree with anything that was settled at the Closing of a Short Sale.