Quote from @Benjamin Aaker:
How are you going to finance the new house? You'll need to speak with a banker about getting a second active VA loan. I think you can do this, but there are a lot of rules around it.
You will have to be prepared to foreclose if the buyer doesn't meet the terms of your agreement. That could be a big pain in California. Find out how to do this first.
Check your current mortgage to see if there is a due-on-sale clause. Might not be a problem with a contract for deed sale as you will keep the title, but best to be transparent with your current lender.
Thanks, I’m planning on digging into my paperwork tonight.
We’re thinking conservatively save 1/3 of the income as additional insurance against foreclosure. Which I think also means I can sell the house at market rate once the foreclosure process clears? Quick google search says minimum 200? days in California?
