Last week, I blogged about timing. This week, I wanted to touch on something that Tim has mentioned before in his Mortgage Monday posts: bridge financing.
From the legal standpoint, bridging makes your move go much more smoothly. If you have bridge financing in place, I can close your purchase before your sale is closed, which means that you can move into your new home straight from your old home, without having to wait around after your sale closes while we get your new house bought. You can even do a same-day bridge if you don’t want to close a day or more earlier. While the decision to bridge is dependent on a lot of factors, it is something you should bring up with your mortgage broker and realtor so that your move is a lot happier.
