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Want to get a loan using vacant land as collateral.

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Icon Mini Profile ibdm0m





Joined: 10 Sep 2010

Posts: 1

1.25 Dollars($)
Post Posted: Fri Sep 10, 2010 1:37 pm    Post subject: Want to get a loan using vacant land as collateral.
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Looking for loan using vacant land (we own it free and clear) as collateral in Michigan. Credit is not so good, want to pay off debt.
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10477
Location: Nevada
990.06 Dollars($)
Post Posted: Fri Sep 10, 2010 8:07 pm    Post subject:
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Hi ibdm,

As your credit is not good, it would be difficult for you to qualify for a mortgage using the land as collateral. You will have to improve your credit first and then look out for a loan. To improve your credit score, check out the given page:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks
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