Swapping Homes is not that easy!

By
Mortgage and Lending with Clifton Financial Services

Swapping Homes is not that easy!

As we all know trying to sell your home in this market is a horrible experience, and some people are considering swapping homes as an option, but is it really a good option.  Lets say your home is in great condition, and you decide you want to take advantage of the buying opportunity and finally get that house by the lake, but you cant sell your home, so you decide to try and swap your home with someone that owns a home by the lake.  And you come to the frightening realization that the home inside screams a 1970 decor, you are now having to gut the home and might have to apply for loans to make this your dream home. You might need more cash then you originally thought, and have to consider taking on a new loan and its rates, and this might not have been what you bargained for.  Of course if you find the ideal home to swap with, it can be advantageous.

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