I need to get a loan?
I am needing to do some repairs on my house and need to take out a loan. My credit is not all that good.I just found out that since I have my house one the market for sale that most lenders will not loan the money out or even in my case refinanice my home so that I can brow aganist it. What can I do? What is the best answer? I need to sell the house fast, due to I need to re locate but I can't get the needed repairs done without the money! HELP ME !!!!!!
Public Comments
- you can try prosper.com ------------------------------------------ I'm posting this to warn EVERYONE on yahoo! abt Loan scams. Beware of Advance fee Loan scams. LOAN SCAM - Do Not Pay UpFront Fees. Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money. For more info do a seach " Advance fee Loan scams"
- If you apply for a loan, you need to NOT have your house listed so withdraw the listing in advance of the appraisal so it doesn't show up in MLS and for heavens sake, take down the sign!
- Have you thought about keep ing the property as an Investment Property and hiring a Property management company to manage it for you? But more to your questions, you might a HELOC ot Home Equity Line Of Credit. This essentailly borrows against the value of your home. It takes must less time to close on this type of loan and most banks can go just a point or so above prime. I fear that will be your best bet, but you'll have to pay it off as soon as the home sells, so if you were counting on having all your equity come with you to your new home, you'll have to use some of it to pay a HELOC back at closing.
- you can approach some banks giving low interest on renovatoin work.get more details on http://realestatepropertynews.com/loan-for-renovation.html
