by omegaprix on March 3rd, 2009

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In 2007, I purchased a house with an 80/20 loan. Now, I HAVE TO MOVE soon and the house will only sell for the balance of the 80% loan. If I buy a new house WELL within my credit & income parameters, could I roll the 20% over to the new loan?

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by Thriftymaid on August 19th, 2009
No, you will lose that equity. Buying houses are not like IRAs.
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by cballhagen on August 19th, 2009
No, the actual 20% loan would have to be paid off and you would be putting (the amount of the second) less down payment on your new house. Loans can not be transferred. They are assigned to one legal discription.
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In 2007, I purchased a house with an 80/20 loan. Now, I HAVE TO MOVE soon and the house will only sell for the balance of the 80% loan. If I buy a new house WELL within my credit & income parameters, could I roll the 20% over to the new loan?

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In 2007, I purchased a house with an 80/20 loan. Now, I HAVE TO MOVE soon and the house will only sell for the balance of the 80% loan. If I buy a new house WELL within my credit & income parameters, could I roll the 20% over to the new loan?

Answers. 2 helpful answers below.

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