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Real Estate
Reply to "Is it cheaper to tear down our existing house and rebuild, or buy a new construction?"
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[quote=Anonymous]Tell me people, if one (like OP), has a large outstanding mortgage on the property, how can you possibly proceed with tearing down the house? Don't you have to pay off the mortgage? Is there some sort of roll over vehicle? I am familiar with build-to-permanent loans, but they are not for the cost of the house being demolished. What happens with the mortgage in this scenario?[/quote]
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