VERY URGENT QUESTION!

fais_sjsu · Joined: 05 May 2007 Posts: 3 3.31 Dollars($)

hi all,

is it possible to have 2 mortgages being processed by different lenders around the same time, like buying 2 properties at the same time. the loan need not close at the same time, but they overlap during processing. does this happen often? anybody done that? what r the pros and cons?

Guest 0.10 Dollars($)

Fais,

It may happen but are you quite sure that you will be able to manage two loans together? I hope you have prepared a well planned budget and will be moving according to it.

fais_sjsu · Joined: 05 May 2007 Posts: 3 3.31 Dollars($)

yes mac, i am financially capable. so will there be any additional complication?

helping_user · Posted: Mon Jun 04, 2007 9:20 pm Post subject:

Hi Fais,

Welcome to our Community.

I agree with Mac. It is possible and i do not think there will be any additional complication.

If you can afford both the loan then go ahead.

Thanks

Guest 0.10 Dollars($)

Hi Fais,

I also agree with Mac. If you are financially capable and can manage other debts, if any, along with these two loans, then there won't be any problem.

Thanks

0.10 Dollars($)

Might be an issue of fraud if in both applications you are attesting that the properties will be owner-occupied principal residences.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

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