Home Equity Loan Private Money

[Ryan Anthony]

Has anyone raised private money where the lender opens a home equity line of credit to supply a deal? How does that work? What interest rate do you offer? What happens to the owners lien on the property? Can they sell it later or does the bank own it?

Newbie investor with lost of questions. Any help is appreciated!

[Chris Marte]

Originally posted by @Ryan Anthony:

@Paul Defngin

Thanks for the advise! What happens to the lenders property that they've gotten a HELOC on? Does the bank own it? Can they sell the property later?

The bank won't take possession of the property under HELOC unless the borrower defaults on payments.