BestInMortgage.com Post Your Mortgage Question Find mortgage expert in your area
You are not logged in. Login here. Not a user? Sign Up
Email: Password:
 
Search by Mortgage Terms: Ask My Question
610 Experts, 1440 Questions, 1555 Answers


Tony Asked:

My Wife and I moved in to a town house a year ago is it possible to sell it and get a larger house? What if the amount of the homes around the area are lower than what we were loaned for? Can we apply the difference to the new loan??? [phoenix AZ]

02/10/2008

Keywords:
                 

 
 
0
Not Ranked
Answer Provided by: Jacie Paulk [02/11/2008]
 

HI Tony, You will not be able to apply the difference of your current loan to a new loan on another house. If you really feel the need to sell your home at this time be prepared to pay the differece out of pocket or perhaps with a personal loan.