Is it possible to take out a personal loan and use a house as collateral?
Thursday, July 23rd, 2009
PlasticTrees asked:
If I buy this house (with cash-no mortgage), I may need a little more money to do some work on it. Is this possible? I know I wouldn’t qualify for a HELOC. What information does the bank want in order to loan?
If I buy this house (with cash-no mortgage), I may need a little more money to do some work on it. Is this possible? I know I wouldn’t qualify for a HELOC. What information does the bank want in order to loan?
Is it a sure thing if the loan is very miniscule compared to the house value?
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