As others have indicated, you need to proceed very carefully in order to protect yourself from any liability here. Probably the answer will be to proceed with a construction/rehab loan unless you have the equity to take out a line of credit sufficient for the work to be done. However, to properly advise you I would need to get into more detail regarding the specifics of the situation.
I am available to help you at your convenience if you wish.
I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.
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Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist
Direct: 240-752-7549 Cell: 301-651-7822
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