How do I go about getting a second mortgage in another state?
Tuesday, 31. August 2010
We are relocating to another state but currently have a home. My husband’s job is relocating him but the package does not offer any help with buying/selling home. So, were stuck with that burden. We are in the process of putting our home in the market in hopes that it will sell but can’t afford two payments. Any suggestions and help would be appreciated?
linkus86 Says:
Mortgage bankers have all kinds of products for people like you. Something called a "bridge loan" comes to mind, but you may simply have to rent until your house sells. In the mean time you can look for your next home and make an offer contingent on the sale of your (soon to be) old home. This all could be to your advantage to give you ample time to find the right house in the right new neighborhood. Good Luck!