My friend needs $15k to close on his house, which is under land contract, due this December 2015. How can I use his current house (under land contract) as collateral for the loan? He (& his wife) are willing to do this, and I trust him to repay this loan.
Thx for any input!
Did you get anyone to answer you on this? I'd like to know if they did what it was. Thanks!