How can I get a debt consolidation loan when I am buying my house on a Land Contract?
Question:
Answer:
Wonder if you mean, "A Contract for Deed".
You really do not have a debt on the land in that case. You do not own it, and will not until it is paid in full. This is a little like lawaway. You may pay "on it" for a time, but it will not be yours until paid. If this is the case, I don't think the balance of the "land contract" would qualify for consolidation. A lender would really be financing the balance of the contract. If it has a market value above the balance, you may get a lender to do that, and consolidate, depending on the value, which fulfills security requirements.
Lump everything together with the same firm. That way you only have one bill per month.
Do alot of research before doing anything. Also get it inspected and title insurance company to help.
Do the math.
There is some useful advice here.
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