As if one real estate transaction is not hectic enough… many of us end up needing to sell one place in order to move up to the next… this is the “real estate catch 22”. Do we buy first?? Do we sell first?? If we are fortunate, these events occur at the same time, but that is not always the case. The problem is trying to determine if it is worse to end up “temporarily homeless” because you sold first, or financially strapped because you bought first.

There are mortgage loan programs that can help home owners use the equity in their home as a down payment to purchase another home without making any extra loan payments for a certain period of time. These loans are called bridge loans. There are some positives and negatives associated with them so make sure you understand how they work and the potential for allowing you to buy a new home while owning an existing property!