Updated over 4 years ago on . Most recent reply
Construction loan, help
I am trying to understand construction loan, my sister has a house with a big lot. She wants to build another house, and rent it. However, she has a mortgage on the whole house. I was wondering if is there a way where we can have a lien release on the lot, or if she builds the house on lot with a mortgage, it is not going to affect anything since she is not selling the house. Can somebody please help me finding a way to do it? Thank you