Mortgagenomics Canada

The following is discussed in this episode:Throughout our lives we will likely be moving from one property to another, and in the process, we use the equity accumulated from the previous property to either buy the new property outright, or use whatever is remaining (once the existing mortgage is paid out) as a down payment for the new property.But sometimes your new property’s closing date doesn’t quite line upwith the closing date of your current property…so in other words, you may find yourself in a situation where the closing date of your new property is BEFORE the completion date of the sale on your current property. <-This is where Bridge Financing can be used.Or, some sellers simply are not aware that they can conveniently schedule the closing date of their current property to lag the completion date of the new property to accommodate for a smooth and stress free moving process from the old home to the new one. <- This is also a good applicati