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Remodel & Renovate in Maine : Real Estate Advice

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  • Local Info1
  • Home Buying41
  • Home Selling11
  • Market Conditions1

Activity 5
Sat Apr 6, 2013
Jeffrey Campbell answered:
sounds like a candidate for HUD or Rural Development Loan.

I recently read an article where Maine has some special loan programs out there right now for low interest loans.

Email me and I will see if I can send you some info on a lender that might be able to help.

Or maybe a lender will step up on here and offer some thoughts!
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Mon Mar 23, 2015
Doug Schauf answered:
It depends on the square footage of the finished space and the quality of materials you use. Hard to answer this one online.

I would be happy to come by and take a look. I could do a CMA with and without the garage. Send me an email if you want me to take a look.

Thanks,

Doug
doug@makemaineyourhome.com
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Tue Jun 26, 2012
Patricia "Pat" Aureli answered:
Hi Lee,
Sorry to hear about this equity loan nightmare situation you are going through. It doesn't seem fair at all, but I can tell you that the current appraisal of a property may very well not match the current town assessment, especially if the assessment was done a few years back when the selling prices of homes were considerably higher. It's not much comfort, but you certainly are not alone in this situation where equity loans are tougher to come by for the very fact that the home may not appraise "high enough" or have enough equity in it to draw against it. I can't imagine why the bank would state that there "is no value" since you bought it and have no mortgage on it. It has the value of what it can currently command in today's market which, according to the bank appraiser is $130,000. If you need recommendations for expert, local lenders and mortgage representatives, please give me a call at 207-251-4566. I'm sure they could help you sort out the truth. Pat Aureli, Broker, Coast & Dream Properties ... more
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Tue Jan 11, 2011
Maureen Cody answered:
Dear Djdova,

Alot depends on the value of home similiar to yours in the area. Contact a local Reatlor to have a market comparision done for you - typically free of charge.

Best Regards,
Maureen
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Sat Sep 22, 2012
Ken Lambert answered:
Hello Karen- I assume you're not from the greater Boothbay area? Obviously in that area there's not a large pool of contractors/ remodelers, but there are some. I happen to be a builder, but down around Portsmouth NH area. I know a name or two. Please send me a PM with a little more info of the work (and the schedule) you're looking for, and I'll try to recommend someone. Thanks,

Ken L.
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