Q: I own a home with a mortgage now and am looking to sell so that I can buy the house my father lived in. Can I sell this house and transfer my mortgage to the other house? Or what do I need to do?
A: Well, 1st, you need to talk with your current lender & see what they will or could do. Good chance is that the answer will be no. More than likely you will need to pay off the current mortgage & then get a new mortgage for the next property.next. Now, after you get all the information (answers from your 1st mtg co) – make your next move. If you want, check out a few different lenders, chances are they will pretty much give you the same answer.