Do I have to sell my home in order to buy?

ESCONDIDO – With such wonderful real estate prices and interest rates still right now, lots of homeowners want to make a transition – to a bigger home, to a retirement home or to a different neighborhood among other things. Many buyers are wondering if they have to sell their existing home in order to buy another.

One Southern California homeowner asks, “I have a $250,000 mortgage balance and I want to purchase a new home. Do I have to sell my current property to qualify for real estate loan?” That is a great question, and the answer is an interesting one.

First off, the answer is: “yes, no or...