Bulk Reductions & Recalculating Loans

When buying your second or third home, chance has it that you’ve made some profit on your last property and are now attempting an upgrade. However what happens when you buy a second home without completing the sale your first? What do you do with the proceeds of the sale? If the answer is to pay down the loan balance on the new home, you may want to look at financing options on the new home that will allow your loan to recalculate based on your principal reduction. Fixed loans often fix the payments as well despite any reductions in principal. Fixed rate interest only loans recast payments based on the amount you owe. This is a complex strategy but often a common need. Please feel free to call me for a more detailed explanation.

To find out more information about reductions and loans, please call 310-867-3579 or visit the contact page.

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