Transfering debt from home sale?
We have a condo, which will probably sell below our mortgage amount (about $20K), i.e. we will owe the bank about $20K. We are buying another house at the same time. Can we transfer this $20K debt under the new house and have it as part of the new mortgage? I just do not feel great about taking cash out, conidering that the new house will require quite somework to do before move in.
Can we do short sale?