Posted on: 13th Apr, 2010 03:47 pm
i just want to take out a small second mortage to help get caught up on bills and give myself some breathing room. my house is very old and needs some improvements. i only paid 28,000 for it but i already used home equity on it and now i owe about 34,000 am i able to get any type of loan on this house? i was wanting to borrow about 10,000.
Hi laboum,
You will have to appraise the property and find out whether or not you have some equity in the property. If you've equity in your home, then you would be able to get a loan based on that equity.
Thanks
You will have to appraise the property and find out whether or not you have some equity in the property. If you've equity in your home, then you would be able to get a loan based on that equity.
Thanks