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2006-10-02 23:25:25 · 1 answers · asked by benshd2002 1 in Business & Finance Personal Finance

1 answers

basically the bank/lending institution will place a mortgage on your title to secure their borrowing.....if you decide to sell the block of land the debt will be cleared first and you will then be given excess funds.....most institutions will borrow against a vacant block but serviceability of the loan would have to be proven first........

2006-10-02 23:29:20 · answer #1 · answered by askaway 6 · 0 0

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