Re: Want to buy a new Home but can't sell Current House
07-24-2009 09:43 AM
Second homes frequently require hefty down payments as well.
You could consider a short sale. If you are not delinquent on your current mortgage, then there would be no waiting period before obtaining a new mortgage. However, your FICO scores will suffer greatly after the short sale is completed, which could make obtaining a new mortgage more difficult.