Apr 20, 2021
1:24:40am
1:24:40am
Because it’s more risky - the asset collateralizing the loan doesn’t exist yet.
Until the house is mostly done it’s not worth enough to cover the loan.
What happens if you abandon the project?
Need more money?
It appraises for less than the value they already fronted you and you spent on building because costs ran high or something weird?
What happens if you abandon the project?
Need more money?
It appraises for less than the value they already fronted you and you spent on building because costs ran high or something weird?
- Previous username
- patches1391
- Bio page
- molodyets
- Joined
- Mar 26, 2006
- Last login
- May 5, 2024
- Total posts
- 43,249 (19,306 FO)
