Remodeling Loan in present market conditions

Asked by , Mon Oct 6, 2008

We own a home in Walnut Creek and are planning to remodel it. It has been a year since we bought our place and would like to expand (add atleast 800 sqft) and renovate our 925 sqft single family home. We have a HELOC, but this is frozen by our bank (National City), the reasoning being drop in value! Keeping in mind that we don't have enough equity in our home, what options do we have for financing our remodeling in the current market conditions?
Has anybody gone through this process? Any pointers/ ideas will be appreciated.


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Will, , Atlanta, GA
Sun Oct 12, 2008
I can assist you with financing your home renovations. My loan will be based on the after improved value of the home. Which in our case would be an ideal program for you.

Will Addo
Renovation specialist
Wells Fargo H
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Catherine My…, Agent, Walnut Creek, CA
Mon Oct 6, 2008
If you don't have enough equity... I can't even imagine ... maybe its not the right time to do it. You may have to wait until your equity rebuilds. Many people are in your same situation, many don't have many choices but to wait out this current market.
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