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That’s why people have to explore other lending options when they want to buy land without a home on it. Alternative land financing options. A home equity loan isn’t the only option for buying ...
Another way to find land for sale is to simply drive around your desired area and look for for-sale signs, or drive over to a local real estate office to check the listings in the window.
Blanket loans are popular with builders and developers who buy large tracts of land, then subdivide them to create many individual parcels to be gradually sold one at a time. Rather than securing a new mortgage each time a portion of the development is sold, the borrower uses the blanket loan to buy them all. Once a parcel is sold, a portion of ...
In the application of creative financing, a land trust can be used to take control of a property while keeping the name of the owner private. While this does not prevent the lending institution from invoking the due on sale clause, it will make it harder for the lending institution to detect that the property has been sold using creative financing.
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