Quote:
Originally Posted by BroadHopper
Seems like the banks do not want to help those who are unfortunate because of the job situation. I tried to get the bank to refinance my home because I fit the criteria sort forth by the affordmyhome.gov website. It's been over seven months and the bank have not made a decision.
Now I am trying to buy another condo, which is not only cheaper, the condo fees are less than half what I pay now. Unfortunately, I can't find a bank to give me an interim loan to buy the other property while I am looking for a buyer. I need to sell this one first!
They want to fill their pockets and not want to help those with good credits and good intent.
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Broadhopper:
I don't mean to preach to you but buying a second property before you sell your first property (which apparently you feel is too costly for you) wouldn't be the wisest move. Cut the price on your primary home and make it go away before you buy a second property. Fortunately, the banks are no longer making bridge loans like the one you seek.