MY family and i are tryng to get a home improvement loan but are having trouble due to our roof damage from?

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we cant get a home improvement loan on our house until we fix our roof wich was damaged due to past hurricanes. the place realy needs fixing the mortgage keeps going up and the place is just not worth it any more how do we get out of here?

  1. Reply
    April 29, 2011 at 11:38 pm

    First let me say I am so sorry about your situation.

    Can you get a loan approved subject to the roof being fixed? If you can, you may be able to have to contractor paid off at closing of the loan after he fixes the roof.

  2. Reply
    Chuck P
    April 30, 2011 at 12:00 am

    What the heck is your insurance company doing? they should have had those repairs made long ago! If not I would get on the phone to them, you shouldn’t have to be in a house with a leaky or damaged roof.

  3. Reply
    April 30, 2011 at 12:36 am

    Get a contractor to give you an estimate of total renivation/improrvement job including the roof and everything else falling off that needs fixing and and get an “as will be” appraisal…then go back to the bank and and try and get a loan based on the contractor estimate and the proposed value of the property after completion of improvements.

  4. Reply
    Tom T
    April 30, 2011 at 1:17 am

    This is a tough situation.

    You may consider seeking some funds from local business who are willing to help in your unfortunate circumstance.

    Try getting some local media to cover the situation and you might be surprised and who come forward to help you out.

  5. Reply
    Mike Cox
    May 15, 2011 at 11:49 pm

    This is easy! You need a FHA203K loan. You can do any other repairs as well.

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