I need a $40,000 mortgage for a house that I'm trying to buy,but I'm trapped in a land contract. what do I do?

Answer 1

Why are you trapped? If you qualify and the house appraises for enough you can just pay off the land contract.

Answer 2

for this reason that a land settlement is a nasty idea. once you entered into the settlement, you probably did not have self belief that there should be a difficulty in getting a private loan such quite some years down the line. so that you dumped funds into the homestead - someone elses homestead. i'd communicate with a lender and word what the topics are. 3 years is a lengthy time period to fix your credit.

Answer 3

sell the land and buy the house