|
Option 2
Buy a nicer home, in better area at current depressed prices with 20% down. After closing, walk on first home.
QUOTE]
Banks won't lend to anyone who currently owns a home that doesn't have at least 25% equity.
They have been keen to this buy and walk scenario for some time!
It's in FHA, and Agency guidelines.
Pretty smart as it protect against just this thing....
__________________
Former Test driver & Production Manager Singer Vehicle Design
2009 Cayenne GTS, '81 911SC RoW Targa (lot's of goodies), '86 535csi, '84 633 csi (turbo charged-sold)  , '68 912 Targa (sold)  , '69 911E (sold)
"Dream it, Believe it, Decide it, DO it "
|