Posted by Wayne-NC on September 23, 2004 at 09:55:14:
I have done plenty as you describe and only used attroneys for the closing. Just be very sure that the numbers work with new mortgage payment along with the HELOC payment. The bank will also compute the debt to income ratio on this new loan as well with both payments in mind.
Posted by newbie on September 20, 2004 at 20:17:04:
Can I use an HELOC on my current residence to place a down payment on a new primary residence? I plan to turn my current residence into a rental property.