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Long term land contracts

Posted on: 21st Jun, 2012 02:37 am
Hello everyone… need help…We currently own a smaller home that we most likely cannot sell as well own more than the property value. What we want to do is find a home that we can merge our photography studio into to save some money. We would rent our current home out. I know there are almost no way we can get another loan for the second home even though we know we can make the payments. Are there many people out there that would do long term land contracts/privately held mortgages?
Hi Garryne,

You will have to contact lenders who offer personal loans and check out if they will be able to give you a loan. If you meet the required criteria of the lender, you will be able to get the loan.

Take care
Posted on: 21st Jun, 2012 03:41 am
Hi Garryne,

As you are already underwater on a property, it will be difficult for you to qualify for another mortgage on a new home. You can check out with the personal property lenders but I doubt whether or not they will be ready to give you a loan.

Thanks
Posted on: 21st Jun, 2012 08:50 pm
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