Financing in Detroit>Question Details

alice, Renter in Bakersfield, CA

I bought the property located at 8456 Patton st Detroit and is it possible to refinance or get a hardmoney loan on this property with bad credit

Asked by alice, Bakersfield, CA Wed Feb 27, 2013

or should I just sell it and if so for how much

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Answers

3
Hello,

With bad credit it is going to be nearly impossible to get financing. Your only hope is to get a hard money loan. But looking at the property and the surrounding comps, it does not seem like the value of your home is all that much.

I don't know what you paid for your house or what you are hoping to get out of it, but it does not look like you will get much. The average SOLD price in that subdivision is just over $7,600.00.

Good Luck and I hope that helps you a little bit,

HAIG
(248) 379-6547
realtorhaig@aol.com
1 vote Thank Flag Link Wed Feb 27, 2013
No you can't get a loan. Call a local Detroit realtor at your Detroit Keller Williams office.
0 votes Thank Flag Link Sat Mar 9, 2013
Haig provided you sage advice.
0 votes Thank Flag Link Fri Mar 8, 2013
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