If your bank would entertain this type of loan, you can probably use the appraisal there. Gather your income documentation (two years of W2s, secured personal loan stubs, cash asset proof, deed to the land and survey of the land).
Call the bank that handles other accounts for you. They are most familiar with your savings and banking habits. Make an appointment with a loan officer to discuss an equity loan against your land. If your tract of land is large secured personal loan, you may be out of luck. Banks do not want to tie up assets on something that would be hard to sell in case of foreclosure.
Smaller tracts that can be sold to build on is more appealing. The loan officer will discuss with you the percentage of the value of the land that may be offered.
Banks have created financial products, such as overdraft protection, so they can charge fees for the service. Many also engage in highly unethical practices like debit resequencing. Debit resequencing is when a bank chooses debit and credit your account in an order so that your account will go negative. This allows them to maximize the amount of the overdraft fees. Dont believe the lie that you cannot achieve financial freedom. Since traditional banks will not issue unsecured, short-term loans, they choose to offer credit cards instead.
The application process is in-depth and can be long, leaving you waiting for weeks until your credit card secured personal loan in the mail.
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