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Can I use land as collateral for a loan?

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carlosyeargin Joined: 09 Feb 2011 Posts: 1 1.00 Dollars($)	Posted: Wed Feb 09, 2011 6:18 pm    Post subject: Can I use land as collateral for a loan? Like 0 Dislike 0 I own a lot in a community and it has a clear title? My credit is fair, and I need money to make improvements so that I can get an mortgage in the near future.
adonis Joined: 22 Oct 2005 Posts: 10571 Location: ALASKA 1090.37 Dollars($)	Posted: Wed Feb 09, 2011 7:52 pm    Post subject: Like 0 Dislike 0 Welcome carlosyeargin, You can use the land as a collateral in order to secure a mortgage. You should contact the local lenders offering land loans and check out whether or not you qualify for it. _________________ Procrastination is the enemy of your financial success

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