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Updated over 3 years ago,
Need access to a Heloc
My wife and I rehabbed a property 6 months ago and rented it out way above what the mortgage is. Current Mortgage is $460 and the unit rents for $1500. We want to take a heloc out on it to pay back her parents who helped us finance the deal. They were recently turned down for the heloc because the debt to income was 52% and needed to be 50%. Does anybody know of any banks that they could possibly run this Heloc through with?