Piotti
New Member
Good Afternoon,
I have found myself, wife included, in a bit of a problem in which we believe we rushed into purchasing a new house, where we are now in somewhat regret, due to other houses in the area and a possible overpayment on our part.
There are three options in place for us
1. Sell our existing home, as planned, and move in and not look back with regret
2. Plan to not sell existing house, but rather use bridge financing to close on existing sale and flip that very same house
3. Purchase a new house, in which we would then have 2 houses to sell, thus needing bridge financing again.
So my question is:
1. Can you use bridge financing in relation to the same property? Meaning, closing on the property we bought with the intentions to sell it back to the market immediately.
2. Purchasing a new house, and using bridge financing to cover us until we sell both homes, existing living in and original one we purchased.
Anyone have experience with bridge financing?
Thanks in advance forum
I have found myself, wife included, in a bit of a problem in which we believe we rushed into purchasing a new house, where we are now in somewhat regret, due to other houses in the area and a possible overpayment on our part.
There are three options in place for us
1. Sell our existing home, as planned, and move in and not look back with regret
2. Plan to not sell existing house, but rather use bridge financing to close on existing sale and flip that very same house
3. Purchase a new house, in which we would then have 2 houses to sell, thus needing bridge financing again.
So my question is:
1. Can you use bridge financing in relation to the same property? Meaning, closing on the property we bought with the intentions to sell it back to the market immediately.
2. Purchasing a new house, and using bridge financing to cover us until we sell both homes, existing living in and original one we purchased.
Anyone have experience with bridge financing?
Thanks in advance forum