[Bonus Episode] Office Hours: What Happens When You Need to Buy a New House Before You Can Sell the One You’re Living In?

Subscribe: Apple Podcasts | Stitcher | Google Podcasts | Spotify

With some folks still looking to get out of city centers and move into single family homes with more space to stretch out, it’s not uncommon to need to carry two mortgages for a short time while moving from the old house to the new one, then getting the old house sold to pay off an existing loan. And thus, mortgage lenders have created specific loan programs to be able to accommodate an individual or family who finds themselves in this very situation.

In this episode of Office Hours, Malcolm and Desiree  sit down to discuss the nuances of this very situation and the stages that need to be navigated carefully in order to make sure that both closings can happen without much of an issue.

Picture of Malcolm Ethridge

Malcolm Ethridge

Malcolm Ethridge is a CERTIFIED FINANCIAL PLANNER™, speaker, blogger, and self-proclaimed personal finance nerd. His areas of expertise include retirement planning, investments, tax planning, insurance, equity compensation, and other executive benefits. He leverages that expertise to help senior managers and executives in tech make sense of some of the most complex financial situations that working professionals tend to face.

Disclosures:

The information provided is for educational and informational purposes only, does not constitute investment advice, and should not be relied upon as such. It should not be considered a solicitation to buy or an offer to sell a security. The views expressed in this commentary are subject to change based on market and other conditions. This writing may contain statements that may be deemed forward‐looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur. Be sure to consult with your tax and legal advisors before taking any action that could have tax consequences. Investments in securities and insurance products are: NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

Join the Mailing List

Sign up to receive show notes and additional resources from each episode delivered straight to your inbox every Wednesday.

© 2024 All rights reserved​

Disclosure

Pin It on Pinterest

Share This

Join our private community of money nerds.

Request Membership