Tom Ramcigam (magicmarmot) wrote,
Tom Ramcigam
magicmarmot

Maybe not exciting, but another possible avenue has come to my attention.

Found a different loan agency that may be willing to do a refinance based on the value of the house after repairs are completed, rather than on the value right now.

It would mean no cash-out; all repairs would have to be completed by licensed and bonded contractors and would be paid out of an account. I'm quite okay with that, as long as I get to choose the work that's done (no way in hell I can afford a $300k mortgage) and it would be going toward fixing up the house.

Still a very preliminary option, but a hopeful one.
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