Posted by Travis (Dallas) on January 23, 2002 at 20:24:21:
What city are you in and how much money do you need?
What type of repairs are needed and how much will they cost? What are you going to do with the house? Live in it, rent it out, sell it???
assuming an FHA loan - Posted by R. Trevino
Posted by R. Trevino on January 23, 2002 at 15:29:40:
My brothers have an FHA mortgage that originated in the late 70s. I hear it is fully assumable with no qualifying. They are willing to let me assume it but my question is: how dificult will it be to refinance to pay off the origanal balance and remodel the house a little. The house is worth about 40k and the balance is arounf 5k.I wouldn’t be looking for a full loan. Just enought to pay off the first and fix it up a bit.But I have bad credit. Is it still possible?