Never agree to finalise a sale closure without agreement on the residual debt being reached. Until you sign the sale agreement you are in a position of strength. Once the sale is closed any co-operation is forgotten about and you are just another unsecured borrower. Net worth and ability to pay are the key issues that dictate any negotiation with banks in respect of these type of debts. In the case of my own bank we will always require full completion of a statement of income and net worth which must be sworn before a Commissioner for Oaths before approving any final settlement agreement. If the information is later found to be incorrect this will render the agreement null and void!