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Reply to "Moving to a new house when we already own a house "
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[quote=Anonymous]I did this in the Spring of 2005; well the market shit the bed and the house I had, which was appraised at 850k, took two years to sell for 715k. So, all the folks telling you to take a bridge loan are they going to make the payments for you ? You can't predict or control tomorrow. You will owe the total amount of debt for as long as it takes to sell one or more of the properties. Real Estate is not liquid nor can you sell part of it - its all or nothing. I am not advising you what to do - only that things that look risk free on paper seldom are....[/quote]
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