Wyoming Realtor Reveals the Smartest Way to Buy Before You Sell

Casper, Wyoming Realtor Explains Smart Mortgage Moves Buying a new home before selling your current one can be a complex financial decision. Two common strategies are bridge loans and mortgage recasts. Alisha Collins, a realtor in Casper, Wyoming, recently shared a video explaining the key differences and when each is most suitable. "A mortgage recast can be a much smarter move than using a bridge loan!" Collins stated in her video. She emphasized that while a bridge loan allows you to use equity from your current home for a down payment on a new property, it requires qualifying for three loans simultaneously. This increases financial strain. In contrast, a recast involves paying down the principal of your existing mortgage. Collins points out that this lowers monthly payments and avoids the extra interest burden of a bridge loan. However, she cautions that the lender must allow recasting, and homeowners need to discuss their plans beforehand. Collins's practical advice, based on her experience helping clients successfully navigate this process, makes her video a valuable resource for homeowners in Casper and beyond. The video's clear explanation and emphasis on cost-effectiveness and stress reduction make it easily adaptable for a wider audience.