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Updated over 2 years ago on . Most recent reply

User Stats

25
Posts
10
Votes
Caleb Campbell
  • Investor
  • Amherst, OH
10
Votes |
25
Posts

Playing the bank game

Caleb Campbell
  • Investor
  • Amherst, OH
Posted

Hello all, I currently have a HELOC on my personal property for $15,000.00, which I used to pay for a down payment on a rental property. My intentions were to pay off that, then buy another rental property in the same manner. However, I also want to buy sooner. I also have an unsecured line of credit for $25,000. Would the bank frown upon me using my unsecured line to pay off my HELOC in order to use the HELOC money?? Since the bank generally won't accept unsecured line money.

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