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Updated over 8 years ago on . Most recent reply

Andrew Gerg's profile image
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Andrew Gerg
  • from downriver, michigan
  • Member since Nov 29, 2015
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Andrew Gerg's profile image
Andrew Gerg's profile image
Andrew Gerg
  • from downriver, michigan
  • Member since Nov 29, 2015
Connect
Andrew Gerg
  • downriver, MI
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Private Lending & Conventional Mortgage Advice

Using friend's house (under land contract) as collateral for loan

Andrew Gerg
  • downriver, MI
Posted

My friend needs $15k to close on his house, which is under land contract, due this December 2015.  How can I use his current house (under land contract) as collateral for the loan?  He (& his wife)  are willing to do this, and I trust him to repay this loan.  

Thx for any input!

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