Does anyone Know How a Homeowner can get refinanced on a Tiny House to Build on when they have Bad Credit?

by admin on April 20, 2010

The Mortgage is in ALABAMA STATE and Has Never Been Late. One Bedroom House appraises for $26000.00
Mortgage Owed is 17000.00 and Room further would Cost 4500.00

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Does anyone Know How a Homeowner can get refinanced on a Tiny … XXOO Me
April 21, 2010 at 1:40 AM

{ 3 comments… read them below or add one }

parsonsel April 20, 2010 at 10:54 PM

You can get a home equity loan, but sometimes banks are leery on doing that with 1bdrm homes because the re-sale value isn’t very good.

TheTruthAboutMortgage.com April 20, 2010 at 11:11 PM

Sounds like a tough deal because the small square footage. I don’t know too much about the median property size in Alabama, but if it’s fairly typical for the region, I’m sure you can get a home equity loan for $5,000 to pay for your addition.

Make sure it’s the right time to get financing. If your credit is poor, why not hold off a few months, and work on rebuilding your credit so you’ll get easier and better financing terms in the future.

Learn more about credit, mortgage, and finance:

http://www.thetruthaboutmortgage.com

gabriel s April 20, 2010 at 11:53 PM

Bad credit is one of the worst problems to have… however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

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