Posted on: 27th Oct, 2010 03:01 pm
Been a builder for a while and survived the storm and now feel I jan jump back into the market. The only home I was stuchk on was a 2008 parade home that my family moved into. I have since had to do a fha loan mod that minimally affected my credit. other than that credit is perfect. My question is I own a few lots free and clear and would like to get back into the game starting with just one spec, tax return income way down and like I said credit is still great with the exception of the one blem on my personal residence. Is there anyone out there that is doing builder spec construction loans with a free and clear lot as collateral? I dont want lot funded or anything like that, just a basic construction loan but would prefer a one time close just in case it doesn't move as planned I would have long term in place and put both my personal home and new spec up for sale.
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