Posted on: 13th Apr, 2010 09:25 am
we own 2 lots in Piedmont Pines (Oakland hills, California) free and clear worth approximately $250,000.00. Each lot allows building of 4 units. Owned free and clear, purchased back in 2005. Looking to sell 1 or both lots and in the mean time looking to borrow $25,000.00 with lots as collateral.
Any takers???
Any takers???
Hi mabel,
You want to sell off both the lots. In that situation, I don't think it would be a good idea to take a loan on that property. While you sell off the property, you will have to pay the debts in full to the lender.
Thanks
You want to sell off both the lots. In that situation, I don't think it would be a good idea to take a loan on that property. While you sell off the property, you will have to pay the debts in full to the lender.
Thanks