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IF I buy a second home then foreclose or shortsale on my first home. What are the consequenses?”?

April 26, 2017Business buy Estate Finance foreclose Home renting shortsale

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IF I buy a second home then foreclose or shortsale on my first home. What are the consequenses?”?

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It depends on the interest rates that u took for first loan and second loan and for foreclosing the home loan , you need to pay the extra 1 or 2 percemt for closing the loan, so better not to close the home loan and pay major part in the form of advance, so that u can save pre-closure percentage.