Post Closed as "duplicate" by Dilip Sarwate, Brythan, Dheer, Pete B., JTP - Apologise to Monica mortgage of
2 added 7 characters in body; edited title
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still Still have mortgage on old house to be torn down- want to build new house

Here is my situation: My husband and I have a house that is over 60 years and we still owe a mortgage on it. The house is in need of lots of repairs and we feel that it would be a money pit if we tried to just make all the repairs, so we are wanting to tear this old house down and build a new house on the same land the old house sits on. I want to know if there are any banks or mortgage companies that will give us a loan to payoffpay off the old mortgage and also finance a new one.

still have mortgage on old house to be torn down- want to build new house

Here is my situation: My husband and I have a house that is over 60 years and we still owe a mortgage on it. The house is in need of lots of repairs and we feel that it would be a money pit if we tried to just make all the repairs, so we are wanting to tear this old house down and build a new house on the same land the old house sits on. I want to know if there are any banks or mortgage companies that will give us a loan to payoff old mortgage and also finance new one.

Still have mortgage on old house to be torn down- want to build new house

Here is my situation: My husband and I have a house that is over 60 years and we still owe a mortgage on it. The house is in need of lots of repairs and we feel that it would be a money pit if we tried to just make all the repairs, so we are wanting to tear this old house down and build a new house on the same land the old house sits on. I want to know if there are any banks or mortgage companies that will give us a loan to pay off the old mortgage and also finance a new one.

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    Bumped by Community user
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still have mortgage on old house to be torn down- want to build new house

Here is my situation: My husband and I have a house that is over 60 years and we still owe a mortgage on it. The house is in need of lots of repairs and we feel that it would be a money pit if we tried to just make all the repairs, so we are wanting to tear this old house down and build a new house on the same land the old house sits on. I want to know if there are any banks or mortgage companies that will give us a loan to payoff old mortgage and also finance new one.