Steven Maislin's blog
In today’s real estate market, it’s not unusual for new home buyers to find themselves in a dilemma.
One situation can be that the value of the pre-construction house drops below the contract purchase price, and they cannot get enough mortgage financing to close on the deal. At the same time, they are unable to sell their existing house for enough money to provide the down payment on the new home.
I have several clients stuck in this situation. Some of my colleagues have clients with the same problem.