Posted on: 06th Feb, 2009 06:42 am
i have my original mortgage and a second mortgage. both which i can pay off if i move but, that will leave me without a down payment for my new home. do i have to pay off the second mortgage or can i finance it at the time i get my new mortgage?
If you are selling your current residence, then they HAVE TO be paid off at the closing table when you sell.