I got a bridge loan for my house I just bought. I have my other house on the market for sale. Its been 9 months and my home as not sold. Can I get out of this bridge loan and refinance it. Can I foreclose and move back to my first house. Somebody help........
2007-01-15 11:54:36 · 4 answers · asked by Gonzo 1 in Business & Finance ➔ Renting & Real Estate
Dont wait, Call your lender ASAP and find out what your options can be!!
2007-01-15 12:25:41 · answer #1 · answered by CEESONE 4 · 0⤊ 0⤋
Before you go into foreclosure try to refi the property into a option arm and than put a renter in the property until the property sell's. Have a open house and try to find out what is possibly wrong with the property which would make it more appealing to a buyer. Is it paint? Than paint it. Is it curb appeal? Than get a Landscaping book and do it yourself or hire someone. Also look at a book called how to sell your home in 5 day's. Good ideas on how to get this all done. Good luck and if you have any questions please contact me.
2007-01-15 15:37:34 · answer #2 · answered by Openthathouse.com 4 · 0⤊ 0⤋
Amen to that. Call your lender ASAP and find out what your options are.
2007-01-15 12:06:52 · answer #3 · answered by operababe_61 3 · 0⤊ 0⤋
Talk with your banker immediately and they will provide you with options so that you don't lose either properly by falling into default.
Good luck.
2007-01-15 11:58:20 · answer #4 · answered by D N 6 · 0⤊ 0⤋