Financing in 44095>Question Details

Allishia, Other/Just Looking in Murrells Inlet, SC


Asked by Allishia, Murrells Inlet, SC Fri Dec 12, 2008

i currently live in ohio and we are planning, or at least trying to move to south carolina lis upcoming summer-2009. i want to buy another house down there so that i don't have to move the kids around again (they're school age)but we currently own a house in ohio. are they still doing any kind of bridge loan? or what options do i have. we don't have the greatest credit right now, but all of our current mortgages and loans are all up to date....i know the market stinks right now. we're even considering a short sale...don't think we'll get much from our property, but it's just an option we're looking into...any advice would be greatly appreciated!! thank you

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HI Allshia.
I just sold a home in MOTL for a couple in your exact circumstance. They are currently 3/4 through their new construction project in South Carolina which I helped them with. Anyway, there are a lot of questions that need to be asked before you can get a real grasp of what options are currently available to you. I have just completed a couple short sales and am currently working on a few more (unfortunately) although this may not be an option for you. You DO need to sit with a Realtor and discuss in detail what your options are. As far as a bridge loan goes, IF you could get one, you need equity in your home and if you are considering a short sale my guess is you have very liitle. Again, my suggestion is to sit down with a Realtor in your area and ask questions and listen to what he/she has to say. You can email me at if you would like to talk to me. Good luck.
1 vote Thank Flag Link Fri Dec 19, 2008
Hi Allishia,
If I were sitting in your position, I would want to get a good handle on what the fair market value of my current home is by a qualified professional.
You need this and current payout from your lender.
The market is shifting and the current interest rates and government policies are very condusive to get buyers -especially 1st time buyers out in the market.
I would be happy to offer you a free, no-obligation price opininion on your home. This would be step one. I know how to sell your home.
You can go to my website at and click on the tab for "INSTANT HOME VALUE" and type in your address. Then you will see what recent sales in your area have generated.
If I can be of assistance to you, please call me at 440-487-2193, e-mail at
Hope to hear from you to assist you in your transaction.
0 votes Thank Flag Link Fri Dec 12, 2008
Allishia, one of your best bets would be to have a real estate professional take a look at your current home and determine what is happening in your local market and or neighborhood. You may not get what you want for your current home but you will save money on the buying sied. It is a GREAT time to buy with so much selection. You should also talk with a mortgage professional and look at what options you might have..Interest rates are at the lowest point they have been since 2003. So you have a number of things working in your favor...We on the Stewart Team would be happy to provide you with some no obligation help. We are nearby in Mentor on Rt. 615...Contrary to what the media is putting out there homes are selling right now...and with interest rates potentially going lower in the months ahead alot of buyers that have been waiting should start to buy! Feel free to contact me this week....
0 votes Thank Flag Link Fri Dec 12, 2008
Hi Allishia, I would recommend possibly renting your current home for a couple of years until the market has a chance to re-boot. If you can avoid a short sale-please do, because it will most likely hurt your credit scores and make it difficult to purchase a new home in SC. You may want to contact a local realtor to have a market analysis performed to determine value before you make a decision. Also speak with a lender to see what they have to offer. If you would like me to refer a local agent to contact you, let me know. You will not be obligated to list, just get an idea of value, and some good advise. Good luck-I hope it works out for you.
0 votes Thank Flag Link Fri Dec 12, 2008
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