Seesus
Active Member
I have a condo coming due for occupancy in June.2013 (potentially). Due to some family reasons - i am now looking for bigger place and can purchase that with the amount of DP required by next year.
Here is my worry - Once i have cleared this purchase next year, I will not have enough room to clear for a second mortgage for the condo coming up in 2013 - What are my options, I do not have assignment clause and will have to wait till the condo is ready and can be re-sold.
I can rent the condo out very easily however i am not sure if i will be able to get a second mortgage once that condo is due ? what in UT users opinion is the way to go - should i just wait until selling the condo - and if not, what are my options.
Here is my worry - Once i have cleared this purchase next year, I will not have enough room to clear for a second mortgage for the condo coming up in 2013 - What are my options, I do not have assignment clause and will have to wait till the condo is ready and can be re-sold.
I can rent the condo out very easily however i am not sure if i will be able to get a second mortgage once that condo is due ? what in UT users opinion is the way to go - should i just wait until selling the condo - and if not, what are my options.