can you use land as collateral that is free of any liens

vzsorecords · Joined: 12 Feb 2008 Posts: 1 1.26 Dollars($)

We have land that is free and clear of any liens and we want to borrow money on the land and use it as collateral. IS there any way of doing this in Texas besides a home Equity Loan?

larry · Joined: 27 Jun 2007 Posts: 2598 349.41 Dollars($)

Hi Crescenze,

Welcome to the forum.

You can use the land as collateral if you are interested to take a loan. I think you should consult with a few lenders and shop a bit for a suitable loan program of your budget.

Thanks.
Larry

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