how can i use my nonliquid assets (real estate) to help my situation- i need cash?
Saturday, 8. May 2010
i’m in a predicament. i have substanial assets and nothing is selling. i need cash fast. ive been living off my savings and providing for my employees the last 6 months,my credit is shot as ive tried to get refinance or equity loan -i waited too late to try to get that as they have tightened up. any suggestions? my business is also stopped- im a contractor. no job potential as of yet.
kristen w Says:
Yes. You can do a hard equity loan and cash out on your properties. There is no minimum credit score requirement. They use the equity in the home only. If you live in Fl I can help you. If not call a mortgage broker and tell them you need a hard equity loan. You usually need 35-40% equity in the home to do this.
Good Luck!!!!!
NatBug Says:
sell some stuff you don’t need on craigslist.com or backpage.com (furniture, electronics, etc.) Be sure to post pictures in your ad!