- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (4)
- Fullmoonfarm
- Contributions:4
Thank you for the responses -
I have a follow up question:
Is it possible to refinance this home when I had a short sale on a different home 4 months ago?
I have a follow up question:
Is it possible to refinance this home when I had a short sale on a different home 4 months ago?
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
I am assuming for land contract that you bought the home under a land contract. If this is the case, then you really do not have title to the property and cannot get a home equity loan. You would need to refinance the home into your name, pay off the land contract note and either get the home equity with the refinance, or as a seperate transaction.
If the land contract is on just land, without a home on it, then no, you cannot get a home equity loan.
Mark
If the land contract is on just land, without a home on it, then no, you cannot get a home equity loan.
Mark
- Fullmoonfarm
- Contributions:4
There is a home on the property and I reside here.
- doralgate
- Contributions:139
I think if you read your question you'll have your answer. It'll be hard to borrow money on a home if there is no home on the land. That said there are probably options for something like this out there.
Is it possible to take a home equity loan on a land contract property?
Market value: $36k
Credit score: 600
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.