Tuesday, August 19, 2014

Help! Now I Own Two Houses!

You had your dream home built and now it's ready for your family to move in, but now you have your existing home to sell! Don't panic!

Despite their best efforts, this does happen to some homeowners. There are options to get you through to the next phase.

Bridging the Gap

The help from this is literal. Bridge Loans are created to bridge the period between when you close on your new house and when you get your money from the sale of your existing house. This can be used to help with the down payment, closing costs and easily repaid with the sale of the home you are moving out of. This can be a pricey option, as the fees are higher up front, but consider the benefits of not having to worry about the transition from old house to new.
bridge loan

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