Bought a cheap house that is boarded up, I wanted to keep it that way for a while. The insurance co and the bank tells me they don’t finance boarded up homes that aren’t in livable condition.
Any ideas how to get around that? Or am I just working with the wrong people?
You may not be speaking to the right people, but you are hearing the right message.
You can’t do a cash out refinance on a boarded up house without the intent to rehab it…
Regards,
Scott Miller
You said you “bought” it…how did you buy it? Just curious but why do you want to keep it boarded up?
If you have plans of rehabbing it, talk to a HML if the banks don’t want to deal.
My guess is ALL CASH…
Regards,
Scott Miller