Creative Finance Magicians, HELP!!! - Posted by Joe Bob
Posted by Joe Bob on December 04, 1999 at 22:27:50:
I am a homeowner in need of a home equity loan. Here is my situation.
- Bought house new 1.2 years ago
- Paid 129,900 for the house with only 1,000 down
- Current mortgage balance is 126,256
As you can see there is little equity in the house, however I do not know what the appraisal value is after the past 1.2 years and a few home improvement projects.
I need a home equity loan for 10,000 - 25,000 dollars. Am I trying to get blood from a turnip or do any of you creative finance magicians know how to pull this loan out of your magic hat?