You are ready to move and have listed your current home for sale. You may have started looking or even found a home to purchase. But, you feel stuck. What can you do? You may not be able to qualify to have two mortgage loans at one time. Most people are not able to do that. So, how can you get into your new property while you handle your current mortgage? Depending on the situation, there are a few key things you can do.
Should You Get a Second Mortgage?
Many people assume they need to get a second mortgage in order to make this process happen. The problem is, most people do not qualify to hold two mortgages at one time; and that means lenders simply will not go for it. You also have to consider that it may take six months or longer to sell your…
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