I have a mortgate on the house I just built and would like to keep my payments the same as the house I am selling.
The new house is quite a bit more than the old house, but when I sell the old house and apply the profits to the new house, the mortgatge is going to be the same.
However, since I haven't sold the old house just yet and to build the new house had to already take out the mortgage, my payments on the new, much more expensive new house, are much higher.
Is there a way to reduce the payments other than refinancing after I sell the old house and apply the equity and profits onto the new house?
Did i do something wrong to get into this situation?
I could have sold the old house and moved into an apartment for 18 months I guess and then had the money that's in the equity in my old house in order to apply to the new mortgage, but is that the only option?
