Posted on: 10th Aug, 2009 11:55 am
what is the best way for me to buy a new home? I currently owe 310000 thousand on a home valued at 575000 thousand. I want to buy a house for approx 300000 thound , remodel it, then sell my existing home. I need the equity from my existing home to do this. What is the best way of doing this?
you would need to get a second mortgage, home equity loan, or home equity line of credit on your current home. however, you will not be able to cash out all of the money needed for your project.