How can I get a loan for home improvement when I don’t own the home?
Posted on
June 11, 2011 by
admin
Hi,my name is Anne,I did the following:
Question: How can I get a loan for home improvement when I don’t own the home?
The home is paid for and I have been allowed to move in. The home is in my aunts name which she is in a retirement home. The home will be in my dad’s name after my aunt passes. I can move into the home as is but it really needs updating and additions.
ANSWER:
Answer by chuckles951
Ask your banker but I doubt it.
Answer by estielmo
Your aunt gets the loan, not you.
Give your answer to this question below!
have u ever thought about getting a personal loan in your name or maybe get a credit card? i don’t think u can make a home improvement loan on a property that does not belong to u.
you cant if you dont owe the home. When a bank lends money for home improvement they are using the home as collateral. If you dont pay they put a lein on the home. Since you dont owe the home you cant get home improvement loan but you can try for a personal loan.
another thing I wouldn’t be spending money or make plans on a home when you aunt is still alive, I would wait until the title is transfer because if she owes any money her home could be use to pay off any debt her estate my incurr.
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