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Updated almost 16 years ago on .

User Stats

387
Posts
8
Votes
Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
8
Votes |
387
Posts

Using equity in 1 house to buy diff. house

Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
Posted

Isn't there a way to use the equity in a different house, like when you buy a property from the homeowner subject to for example and you also need to give them a $20,000 loan. Most people would secure that loan to that property and when they fix up and sell it in 6 months, they would need to pay off that loan. But, if you give them a $20,000 loan secured by this other house, then you don't need to pay it off when you sell that house you're buying, right?