What is a bridge loan? We have our house on the market and want to put an offer on a brand new bank owned home

We cannot afford 2 mortgages but love the bank owned home. They of course will not accept contigency offers. Is a bridge loan a good idea or are there other financing options out there? Or do we just be patient and wait until our home sells and possibly miss out on the deal? Thanks!

Can I tour a bank-owned home when… I am interested in purchasing a bank-owned home for personal use, even though it is not on the market yet. Would I be able to tour the home with the bank's approval? I am not…

What happens after you make an offer on… I'm getting ready to buy my first house, so I don't know too much about the process. Since I don't have money, all the houses I'm looking at are foreclosures or bank owned. What happens…

Question about banks regarding offers… How long does it take for a bank to respond regarding your offer on a house? Just generally. There are two we like. One we like much better than the other. We have about a…

Related Articles

Related Posts

Bridge loan to another house that we… New House wanted to buy (much more impressive, could not miss, $ 100,000 less than the original asking price) we were trying our other house we owned (excluding mortgages), it said that the bank is…

Can I tour a bank-owned home when it's… I am interested in purchasing a bank-owned home for personal use, even though it is not on the market yet. Would I be able to tour the home with the bank's approval? I am not…

What happens after you make an offer on… I'm getting ready to buy my first house, so I don't know too much about the process. Since I don't have money, all the houses I'm looking at are foreclosures or bank owned. What happens…

Bridge loan on other house that we own… Wanted to buy a new home (awesome deal, couldn't pass up, $ 100,000 less than original asking price) we were currently trying to sell our other house we owned (no mortgage) so the bank talked…

Question about banks regarding offers… How long does it take for a bank to respond regarding your offer on a house? Just generally. There are two we like. One we like much better than the other. We have about a…

Random Questions

How to Add More Credit Accounts Wisely
My FICO scores are in the low 700’s, which is nothing to complain about, but like everyone here I want to achieve the highest scores possible.All Fico 8 Scores into Mid-600's/Other… I have really started …
Should I Pay Off Collection from 5 1/2 years ago?
6 1/2 years ago I had surgery for a cancerous tumor. My employer’s health insurance company went out of business right after that. Claims that should have been paid 100% went to collections instead. I’ve never …
Is Experian always
I paid off some credit cards off in early July and Equifax and Trans Union have already updated it on July 23 but Experian has not. Does anyone know if Experian usually late to report?Getting …
Chargeoff – Settlement Offer
I have a repo charge-off account that updates on a monthly basis faithfully since 2014 and needs to have this account settled. The car was sold at an auction for $ 6700 and the balance is …
Need some advice – PRA
I have 2 paid charge offs with PRA. I paid these about a year ago (Before I knew about PFD). Back in February when I got serious about cleaning my credit up I disputed these. …

Random Posts

Does it make sense to incur capital gains tax (on stocks) of 13% to prepay a mortgage with a 4.5% int. rate?
My marginal income tax rate, here in Canada is around 13% for capital gains. I would like to pay my mortgage early, but it just doesn’t seem to make sense to pay it down quickly …
Are housing prices really going to come down?
We live in Delaware and are looking to buy a home next Spring. I have been reading in the news that home prices are going to be going down. Is this true? Also when can …
I have a seller’s concession for $11,000 and my closing cost is $8,000. How do I take advantage of the $3,000?
I have a seller's concession for… when using a seller concession tha… i wanted to use a seller's concession towards my loan to help cover the closing cost. that will not affect the price of …
I am obligate to show prove of a Homeowner Insurance to the Association?
I am obligate to show prove of a… Can a condo association fine a… If a homeowner displays porch furniture at their front entrance and the by laws don't say anything about porch furniture, can …
Is a credit score of 730 good?
I know the average is supposed to be 678, but is my score considered good, very good, just average?Is a credit score of 730 good? I know the average is supposed to be 678, but …

Random Topics

How do I go about making my own jewelery store?
I want to go to Florida and either be a nurse or make my own jeweler store,or both. But how do i go about making a store. I don’t want to build the building, I …
If I make $500-$1000 weekly, do I need college?
I’m 20 years old and college is a drag. Over the past seven months, I have been playing poker online and consistently have been making $ 500-$ 1000 weekly.I got a college credit card whats… …
I am looking for a debt settlement back end companies.?
I have a debt settlement company and need a processor that does not charge any fees. Thanks for the help.I am looking for a debt settlement back… I have a debt settlement company and need …
can u get evicted by the bank before the sell date of your house. and how long in advance does the b
have to notify ucan u get evicted by the bank before… ...long in advance does the bank? have to notify uHow long before the sell date of your… Can the bank evict you before the …
Can multiple Late payments be removed?
I think the answer is NO.AES Late payments removed!! Hello!I have been vigorously trying to clean up my reports and one of the worst marks were multiple (9) late payments for my SL's from AES. …