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    when banks give out a constraction loan , do they have to make sure the property is free of leain

    0  Views: 182 Answers: 1 Posted: 11 years ago

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    It doesn't matter if you have a lien or not. Most people borrow money for a construction loan at the same time as they buy a piece of property, so the mortgage and the construction loan are one and the same. If someone borrows money for a construction loan after they buy a piece of property, you can still borrow the money if you have a mortgage. You would then have a mortgage and a construction loan to pay off.



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