Asked by Ted, Ohio • Tue Jul 22, 2008
We are relocating to San Jose from out of state. The problem is that it will likely take us several months, or perhaps over a year, to sell our current homeâ€”since there is a lot of new home construction going up around us. We would need the equity in the old home to be able to get the type of financing weâ€™d like for our new homeâ€”not a cash flow issue, but related to the size of both loans. Apartment is probably not an option. Downsizing our home purchase seems unappealing also. Any options for leasing a home that transitions into home purchase upon sale of old home?
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