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.
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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magicmarmot- Tom Ramcigam
- Magic Marmot Studios
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That will leave you more time to have fun, and with the house mostly fixed, you won't be stressed out all the time.