Posted by Ed Garcia on January 17, 2001 at 09:20:05:
I realize you’re only know what you friend is telling you in regards to this deal. Tim one of the problems is the condition of the house. Most lenders want a house that shows pride of ownership. My suggestion is for your friend to go to Household Finance, Beneficial Finance, Associates, American General, or City Financial. I know that there has to be one of these lenders in your area. Tell them that he wants a home improvement loan and would be glad to pay on a voucher system. A voucher system is where the lender pays the contractor as the work is being done.