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Advice on Lot Loans

I have a lot that I am paying pretty much interest only on (and have been for years).  I have been trying to sell for years with no luck.  The loan is killing me and I can't get anyone to re-fi, much less work a loan that will pay down some of the principle.
  • July 19 2012 - Weddington
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Answers (1)

Profile picture for daveskow

I would recommend :

1) contact current lender / note holder to see if you can renegotiate the terms  2) contact smaller local credit unions / local banks in your area
3) consider  a  cross colaterization type loan  ( if applicable ) where you  bundle this loan / property in with  another property that you might have  equity in

  • July 19 2012
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