gg asked:

A HELOC is only for people who already own and have paid off part of their mortgage, right?

We have not yet purchased a home, and we want to apply for a loan for remodeling costs (house needs structural repair.)

We don’t have any of our own money to do the extensive work required. We are prepared to offer a very very low amount for the house, but don’t know how to find funding to do the repairs.

(Don’t tell me to NOT buy the house. I know that is always an option.)

Francis K asked:


We have owned our house for over 3 years now going on 4 years. We have
not had much done to it remodeling or repairs done to it. Needs some
repair work done to it.Is it still possible to get it Refinance? We
would like to if possible get all or some of these things done: Credit
card bills payed off,bills paid up to date,maybe lower our
payments,home repairs, home remodeling,Maybe some cash back, etc.Is all
or any of this possible ? ?? Please reply soon. Thank you much Sincerly
Frank Kuzyk.