Posted on: 05th Aug, 2009 07:30 pm
I have spoke to the mortgage lender about a DIL due to the fact that I cannot make my mortgage payments any longer. I have 6.5 acres of land but i only have 5 acres of land included in my mortgage. If the bank approves the DIL, how do they decide which 5 acres are included?
Welcome Harleymeg,
You will have to speak to your lender in this regard and check out how they would decide on the 5 acres of land. The lender may even sell off the 6.5 acres of land and pay you for the 1.5 acres.
You will have to speak to your lender in this regard and check out how they would decide on the 5 acres of land. The lender may even sell off the 6.5 acres of land and pay you for the 1.5 acres.