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Reply to "Moving to a new house when we already own a house "
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[quote=Anonymous]We needed the equity from our first home for a down payment on our new house. We lived in a popular area and were able to sell it quickly, ask for a long closing and a long rent back. We were under contract for 2 months and rented back for about 6 weeks after the sale. It took us two months to find our new home after we went under contract on the old one. We'd been looking for a while, though, and knew what we wanted. It worked out, but since we were looking in another hot market, we would have been willing to rent for a while. Fortunately, it wasn't necessary but it is an option in this type of situation. Good luck! Also maybe a bridge loan, though I can't speak to that at all because we never considered it.[/quote]
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