Quote:
Originally Posted by crashmy911
Since your up a 100k on the new house why not take less on the old house. Don't be greedy!
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my guess is they aren't up 100k on the new home. sounds like it was listed on the open market. if their offer was close to list price (and not some ridiculously low figure) then they paid market.
our guy may be more than able to cover both mtgs but a lot of folks in this scenario are not.
my feeling is the only way to guarantee that you don't go to foreclosure because you couldn't carry two mortgages is to not carry two mortgages.