[Karen & Ed S]

mortgage) to buy a new home and we can't sell old home. Fourclose? Wanted to buy a new home (awesome deal, couldn't pass up, $100,000 less than original asking price) we were currently trying to sell our other house we owned (no mortgage) so the bank talked us into a bridge loan for a year. We are having trouble selling the house and only have about 5 months to sell it before the bridge loan is up and we would have to take out another loan with a payment we can't afford. Our loan officer told us we might have to foreclose and it would not hurt our new home because we are making the payments and are even ahead on the payments. We plan on staying at the new home and won't be buying a new home anytime in the future. How will this affect our credit on other purchases? This is the last thing I want to happen is to fourclose.