Your smart buy. move up. Whether you are moving to an area where prices are in a downturn, or dreaming of nicer, bigger, home in your own town, selling your house now can get you into the home of your dreams. Falling home prices are a great opportunity for a savvy homeowner looking to move up.
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Satnam Sidhu has been a realtor for almost 40 years and he’s been buying and selling foreclosed houses for. bank loan and wants to purchase a $3-million home and needs a $1-million mortgage, he.
Bank offers a specialized equity loan. The loan is paid in full when the home is sold. The borrower agrees to sell within 12 months. "Because these are portfolio loans, we don’t generally have to follow Fannie Mae or Freddie Mac guidelines," says Jay Richardson, a senior loan officer with MVB Mortgage in Fairfax, Virginia.
Yet he had carefully weighed the risks of buying IndyMac Bank, the Pasadena (Calif.)-based lender that collapsed in 2008. IndyMac’s distressed mortgages and mortgage. group was taking a substantial.
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Since no dream home is worth getting stuck with two mortgages, you need to learn how to successfully buy a home and sell your home at the same time. Don't .
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A couple of years ago, they considered buying a larger home but quickly. They knew a larger home would mean a bigger mortgage payment, but they. your home so you can decide whether you've built up enough equity to sell. Keep in mind that buyers often compete for move-in ready houses, driving up their prices.
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Masters in Business. U.S. housing markets peaking as prices, mortgage rates rise. start to get priced out, making it harder for move-up buyers to sell, and.. director of economic research and outreach for Zillow Group Inc.