I'm very grateful to everyone for their comments, please keep them coming as my situation has gotten a little more complicated. We now have our PA home under agreement of sale for a closing 7/15, but there are several contingencies which, if the worst happens, will cause the sale to be cancelled. If all worked perfect, we'd close on our PA house 7/15 and then take our net proceeds to our BUT, because of the contingencies on the closing of our PA house, we better to prepared with a loan for the TV home "just in case". What we need to do is to get a commitment for a mortgage loan to cover the TV home, that we can cancel at the last minute if the closing on our PA home comes through on time. AND where the cancelled TV mortgage will not have cost us much up-front money that will wind up being wasted when the mortgage is cancelled. Also, we must consider the possibility that the PA closing gets cancelled, and then we have to use the loan with mortgage on the TV home to buy the TV home, and then will wind up paying off that TV mortgage within months when the PA home (which will have gone back onto the market) finally sells and closes with a new Buyer. I know that in PA there cannot legally be any penalty for paying off a mortgage early, but I suspect that is not the case in FL?
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