Posted by pboone on March 29, 2006 at 09:34:14:
Not traditionally, the equity, if any, could attract private investors, but a bank would say no.
anyone know the answer?? - Posted by pat-
Posted by pat- on March 29, 2006 at 09:22:27:
simple question:
If i take over payments via -land trust, sub2- ( so i now have the deed)
can i further encumber the property?
in other words can i get a small home improvement loan to take a 2nd
mortgage?or will a lender see that the loan isnt in my name and throw out the
case. since i legally own the house im guessing a home improvement loan
shouldnt be a problem.
Re: anyone know the answer?? - Posted by Matthew G
Posted by Matthew G on March 29, 2006 at 10:27:41:
I’ve seen it done where on a deed recorded option the guy took out a 2nd. I’ve only seen it once but if you have the right CLTV /bank/ lender / credit it can be possible