My partner and I bought a home for $122k around a year ago from his family, it appraised at $190k during the inspection and loan process. It is an older home and we’d like to do renovations and eventually sell it.
We don’t have money for renovations currently, but know that Home Equity Loans exist but nothing else.
How does it work?
In: Economics
The bank can default you (ie, call the balance due) on that loan at any time for any reason, or no reason at all
Go into one eyes wide open
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