It would make far more sense to refinance the land in one new loan. Pay off the $2000 with the proceeds of the new loan. Check with a bank to investigate your options.
Sunday, June 20, 2010
Can you take a second loan out on land?
I own about 2.5 acres of land and i have one note on it but only for about 2000 it is worth way more than that. so what im asking is can i through another bank take out a second loan on this land or is one note all you can have?
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