Well, I went to the bank after work today to see about getting a home equity loan. They said, “No. You’re not eligible for this loan because you’re not currently residing in the home.” I said, “Well I can’t live in the home until repairs are done.” They said, “Well you’re not eligible for a home equity loan, but maybe you can take out a second mortgage. I’ll call another loan officer and ask.” And the other loan officer said, “No. You’re not eligible for this loan because the home is inhabitable.”
I can’t believe this. It never even occurred to me that I wouldn’t get a loan for my home repairs. I have perfect credit and I own my home free and clear. No mortgage. Still, they said no.
I’m not sure what my next move is, but I’ll figure it out.
Keep you all posted :)