2007-09-25 05:18:10 · 5 answers · asked by jaks75_04 1 in Business & Finance ➔ Renting & Real Estate
Just be very careful with your home loan. Understand each condition of the loan.
There are people around who would steal everything if they could.
2007-09-25 05:24:49 · answer #1 · answered by Fred F 7 · 0⤊ 0⤋
That sounds like the perfect way to have the banks foreclose on your new home, then slap a lein on your old house and foreclose on that too!
Look at everyone it's happening to right now.
FIX YOUR CREDIT before applying for any more money.
If you're not spending responsibly now, what makes you think a bank will give you a loan so you can have TWO houses?
2007-09-25 12:42:19 · answer #2 · answered by Roland'sMommy 6 · 0⤊ 0⤋
Why wouldn't you sell you existing home first prior to looking for a new home? or are you looking to finance a vacationhome or an investment property with the equity in your first?
Here's my advice for what it's worth...
Do not borrow more money. Get your financial house in order. Improve your credit. and then think about a new home.
2007-09-25 13:24:04 · answer #3 · answered by Christiane 3 · 0⤊ 0⤋
Depends on how much you owe on your current home.
Most mortgage programs require that you live in the new home.
FHA mortgages are great for low scores...and have a 2.25% down payment requirement.
2007-09-25 12:21:49 · answer #4 · answered by Anonymous · 0⤊ 1⤋
www.lendingtree.com
Banks will compete to win your business.
2007-09-25 12:26:37 · answer #5 · answered by Anonymous · 0⤊ 1⤋