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Personal Finances / Buying or Selling a Home


Subject:  The "I found a house dilemma" Date:  12/18/2004  8:07 AM
Author:  Yikes51 Number:  78424 of 128887

Long story short. I was laid off by my company. They want to hire me back in another city. I went on a "fact finding" mission to explore housing situation. The company offered me the job. I want to accept. I found a new house that is ideal. Have not even started to sell my existing home. I have $50,000 that I could use for the new home downpayment, but desire to have lower mortgage payments resulting from the equity of the existing home.
How can I get the new home & apply the old home equity to the new home .... when my old home sells AND get a lower mortgage payment as a result of the old home equity monies being applied to the new home.
New home is for sale NOW ... haven't even started to sell the old home.
Dilemma, huh?

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