Can this be done? - Posted by RonH(MD)

Real Estate Investing
1

Posted by Sean on August 23, 2005 at 08:52:35:

I would bet the banks are gonna balk big time… they are taking second behind a first that you as the “owner” aren’t even liable for.

I know if I were a banker, I’d tell you no way, but if you like Mr. “owner” we’ll gladly offer you a new first mortgage that will allow you to pay off the first, and put cash in your pocket.

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Can this be done? - Posted by RonH(MD)

Posted by RonH(MD) on August 23, 2005 at 07:34:45:

Can you take out a HELOC against homes that you’ve taken Sub2.

Thanks,

RonH(MD)

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Re: Can this be done? - Posted by Jon

Posted by Jon on August 23, 2005 at 09:28:49:

Go place a private loan on it.

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Re: Can this be done? - Posted by John

Posted by John on August 23, 2005 at 09:10:27:

I believe some lender may do this but it is unlikely. Your better option would be a cash out refi or it is possible to get a 1st position HELOC for 80% if your score is 680+
Email me if you need more info