With some folks still looking to get out of city centers and move into single family homes with more space to stretch out, it’s not uncommon to need to carry two mortgages for a short time while moving from the old house to the new one, then getting the old house sold to pay off an existing loan. And thus, mortgage lenders have created specific loan programs to be able to accommodate an individual or family who finds themselves in this very situation.
In this episode of Office Hours, Malcolm and Desiree sit down to discuss the nuances of this very situation and the stages that need to be navigated carefully in order to make sure that both closings can happen without much of an issue.
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