Compare Mortgage Quotes

laureldavid23 · Joined: 25 Oct 2009 Posts: 1 1.30 Dollars($)

We have a home for sale in Michigan that has a mortgage and equity line against it, but would like to purchase a home in Tennessee. Is it possible to get a mortgage in Tennessee and consolidate all the mortgages into one?

gmakerley · Posted: Sun Oct 25, 2009 8:14 pm Post subject:

no, you can't do something like that. the laws in each state would be different for mortgage loans, and there's no lenders out there currently who'd be prone to making a blanket loan on 2 or more properties in the same state, let alone in two different states. if you wish to refinance, you'll have to do each home separately.

Guest

Thank you for the information. I guess we go back to the drawing board!

gmakerley · Posted: Mon Oct 26, 2009 6:45 pm Post subject:

let me give you one scenario that just cropped up in my head. if you have sufficient equity in one of those homes, you could borrow enough on that one home to pay both mortgages in full. you would then have a home that's mortgaged to the hilt and another that's owned free and clear.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Can 2 mortgages in different states be rolled into one?