http://moneysmartlife.com/mortgage-pre-approval-when-buying-a-house/ Money Tips for a Better Life Sat, 21 Nov 2009 07:43:50 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://moneysmartlife.com/mortgage-pre-approval-when-buying-a-house/comment-page-1/#comment-154010 marci Thu, 02 Jul 2009 17:35:54 +0000 http://moneysmartlife.com/?p=1948#comment-154010 Another option, if you are selling one house to move to another, is to get pre-approval on the to-sell house's home equity line of credit. If you can pull enough cash out of the house, plus your cash on hand, you can pay cash for the new house. Then you pay interest only on the old house until it sells. Kind of helps out with that moving problem and saves all the new mortage paperwork costs. Another option, if you are selling one house to move to another, is to get pre-approval on the to-sell house’s home equity line of credit. If you can pull enough cash out of the house, plus your cash on hand, you can pay cash for the new house. Then you pay interest only on the old house until it sells. Kind of helps out with that moving problem and saves all the new mortage paperwork costs.

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