mortgage recast: Plan Your Home Purchase Using a Mortgage Recast
- 07/09/13 10:59 AM
Often times, seemingly in a fantasyland, home buyers might want to buy their new home first non-contingent on a home sale and sell their retained home shortly after moving into their new one without a financial inconvenience. They might want to do this to get a better price due to negotiating from a position of strength or it might simply be a matter of logistical convenience. Whatever the reason, the difficulty arises when they want to use the equity from the home that they’d be selling to achieve a lower payment on their mortgage for their new home. Most would suggest … (22 comments)
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Often times, seemingly in a fantasyland, home buyers might want to buy their new home first non-contingent on a home sale and sell their retained home shortly after moving into their new one without a financial inconvenience. They might want to do this to get a better price due to negotiating from a position of strength or it might simply be a matter of logistical convenience. Whatever the reason, the difficulty arises when they want to use the equity from the home that they’d be selling to achieve a lower payment on their mortgage for their new home. Most would suggest … (22 comments)
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