So my boyfriend is now the owner of a small 1 bedroom house built in the 20s that is in complete shambles. There is no bathroom, the floors are caving in, the walls are in deterioration. The property value including the house now is ~ $50k (it is in a nice part of town with high property value). We are excited to basically start from scratch and build it into our first home... However, it is going to cost about 20k to make it livable. We are currently in another lease until July, when we hope to move into the new house. He was planning to be able to take a loan out against the house, but has been told he needs to live in the house for 6 months before he can refinance, and until then can only get a loan for what he paid for it...Which was $5. Are there any other options? He has good credit but currently no job that he can provide proof of income from (handyman/contract/union work). Please help, we want to get the ball rolling ASAP!
Submitted January 25, 2017 at 11:00AM by erin_neato http://ift.tt/2kjgy5B
