Posted on: 28th Nov, 2010 10:33 pm
I have 3.5 acres n lillian al n i fully own it but its just an empty lot.I'm going thorough some money issues ryte now n need sum extra cash 4 bills.I dont have credit.Can i borrow money,like a loan n put the land collatteral.Is ther anybody who does tht??
Hi lilmstig,
If you do not have a credit, then you won't be able to get a mortgage using the land as a collateral. None of the lenders will be ready to give you a mortgage without a sold credit record. You will have to build your credit first and then look out for mortgage.
Thanks,
Jerry
If you do not have a credit, then you won't be able to get a mortgage using the land as a collateral. None of the lenders will be ready to give you a mortgage without a sold credit record. You will have to build your credit first and then look out for mortgage.
Thanks,
Jerry
can you eloborate your credit score?
One option i want to give you that you can sold your land and then go for loan for house.....
Or there may be someone who can help you (local financial agencies) they can provide you loan by keeping land as collateral.
Please check your all posibilities.....
good luck....
Further want to say you if you can tell your location then anyone in community may help you with your query.
One option i want to give you that you can sold your land and then go for loan for house.....
Or there may be someone who can help you (local financial agencies) they can provide you loan by keeping land as collateral.
Please check your all posibilities.....
good luck....
Further want to say you if you can tell your location then anyone in community may help you with your query.