Posted by Nate(DC) on March 19, 2003 at 09:58:31:
Good to know (not that I am in NJ) 
NT
Line of Credit on… - Posted by Marc NJ
Posted by Marc NJ on March 17, 2003 at 22:51:06:
Ed, can I get I line of credit ona NOO house with approx. 100K equity in it.
This house is a L/O property that my tenant will need another 8 months to cash me out. I have a FICO of 660, what do you think?
Is it possible, I need the money for sherrif sales, and I do use hard money but the lender wants clear title, most of these sherrif sale deals have third party tax liens on them, and I wouldnt pay them till the property is sold.
Your thoughts are greatly appreciated.
Marc Friedman
Statewdie Property Solutions
Re: Line of Credit on… - Posted by GMann
Posted by GMann on March 18, 2003 at 24:05:56:
Try one of the small local banks. If the combined LTV is 70-80% they may be a player. Who knows, you may start a relationship with them.
If that doesn’t work, try a local broker, Wells Fargo, Washington Mutual, or Countrywide. They all have home equity loans but I don’t know if they offer on investment prop.
Re: Line of Credit on… - Posted by Nate(DC)
Posted by Nate(DC) on March 18, 2003 at 10:20:54:
I think I recall posts recently saying that both Bank of America and Chase offered credit lines on investment property.
Though I don’t think B of A is in NJ…
NT
Re: Line of Credit on… - Posted by mir
Posted by mir on March 18, 2003 at 22:24:45:
Nate…FYI
Bank of America arrived in NJ bout 6 mos. ago.