Thread: Too much land?
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Old 02-03-2012, 08:36 AM   #7
TomC
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Default would current mortgage allow?

Quote:
Originally Posted by gf2020 View Post
Subdivide the property into multiple lots, with your house on just one of the lots, say 2-5 acres. Refinance the mortgage with just your house and the new lot as collateral. It will probably cost you at least $10K in legal and surveying fees but it will be worth it in the long run.
the current leinholder probably isn't going to let the parcel be carved up.
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