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Two Mortgages |
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Currently, my wife and I want to reduce our debt, and our mortgage payment is a huge burden. In addition, we
have a second mortgage as a result of additions to our home. With that said here is my question: If I sell my home, I barely cover the first mortgage. So, are there programs that combine the mortgages into one mortgage after I sell and buy a lower priced home? I hope this makes sense. |
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I'm afraid I don't understand exactly what you're asking but I can tell you that you can't move mortgage debt from one property to another. And I don't see who would buy your present home unless both of the present loans against it were paid off. |
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Edith
Originally published on November 30, 2007 |
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