FYI: Multiple Homes on One Mortgage Might Not Fly!
By Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR®
(101 Main St. Realty)
FYI: Multiple Homes on One Mortgage Might Not Fly! I am excited to tell you that we have closed on the two homes located at 421 and 441 Riverwood Drive that I blogged about earlier. The larger of the two homes (441 Riverwood Drive) was built first. The smaller home (421 Riverwood Drive) was later added as a guest house. When I listed these two properties. I originally had them listed on MLS as 2 separate properties so that buyers had a choice of just one -- or both. As expected, the buyers wanted both properties and they wrote their offer on one contract. Susan Bryant, from TMC Home Loans in Trinity, Texas had once told me that often times lenders do not like loans that have more than one home on them. So it came as no great surprise when that the underwriter had the buy...