All Forum Posts by: Laura Tokgozoglu

We are moving from Maryland to Lynchburg...but only because of a life event, my husband is retiring and our daughter and granddaughter are in Lynchburg. We are selling our 4br/2 ba 3500 sf house and moving into a 1400 sf house( Lakefront house, on Timberlake, we are trading space for location)We are trading in a 2.99 % for a 7.99% rate ( on a Bridge Loan) We got a bridge loan as we are buying the lake house now( they rarely come up for sale and we jumped on this when we saw it, a lifelong dream of living waterfront miraculously fulfulled!) We had been planning to sell next spring but finding the lake house pushed things up. We are hoping to use the equity in the sale of our house, hoping to get about 150k to 200k and then raiding our retirement savings once he retires to pay the whole thing off. It does not make any sense for us to carry a 7.99% loan...it would cost us 30k in interest alon per year. That is double our interest now. We could never have bought this house if we had to pay that kind of interest. My realtor says houses like ours here are selling in 2 weeks with multiple offers...we are hoping to get 700K or thereabouts. We are looking forward to a slower pace of life on the lake!

We use Priority One and are happy with them.