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Refinancing a land loan

Profile picture for BenWillems
I bought a piece of land as an investment before the real estate market crashed.  I want to refinance (change from a balloon to a fixed rate 10-15 year term), but it turns out that I cannot reach out to the investor that owns the mortgage.  So you know of anyone that would be able and willing to refinance land?
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0Yes

September 07 2009 - Absecon
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Answers (2)

what is the state.
current appraised value and loan amount.
you might be better off throwing a double wide on it until you are ready to build.
then do a home refinance.
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September 07 2009
Profile picture for Ericmabrams
Refi with a mortgage broker who can place the loan with a different investor/bank.  There's little you can do to force your lender to work with you, especially when land loan defaults benefit the lender so greatly. 



 
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September 07 2009
 

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