Need help on financing a property - Posted by Debra Berg
Posted by Debra Berg on October 13, 2003 at 14:27:12:
We just found a 2800 sq. ft. home with 2 acres of land that requires approx. $30,000 in repairs to be in top shape.
We are not looking to do all the repairs at once. We just want to tackle the ones that are necessary to make the home livable. That would take about $10,000.00. Does anyone know how we could finance the house & the $10,000.00 together. Or how to use sweat equity in the deal. I’m looking to put together a proposal for the mortgage holder and any help would be beneficial.
Here are more details:
The house is a foreclosure for $56,000
AC & Heat
We are first time buyers
My hubby is a Self employed contractor
and plan to use a grant for the down payment.
Does anyone have any creative ideas on how to make this work?
Mrs. Debra Berg