I own a home in Oregon appraised at $378,000. It's paid in full. We want to relocate to Raleigh, NC. On a recent trip we made a offer on a home and it was accepted, the sale is pending. To purchase this home I am planing to use the equity in my paid-off home, pay cash for the new home of $230,000, then sale my home in Oregon and therefore the loan would be cleared.
Any better options for doing this? My payments will be about $1900 on the equity loan and I would sure like to avoid having to pay more then one payment. Can i request my payments to be delayed for 90 days? What is the maximum? I wish to sell my old home before having to make those huge payments.
Any tips or advice is appreciated on how to save as much as possible. Thanks!
2007-03-01
15:39:05
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4 answers
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asked by
Anonymous