Basic approaches to selling a home with two mortgages

Homeowners in Florida with two mortgages can sell their homes by paying off both loans at closing, similar to selling with one mortgage if the home's value meets or exceeds the loan balances. If the loans exceed the property's value, a short sale may be pursued, requiring lender approval for a lower payoff amount. Homeowners must demonstrate financial hardship to qualify. Legal representation can assist in negotiating terms and ensuring proper documentation for a short sale.