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Updated almost 3 years ago on . Most recent reply

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115
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49
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Mariel DeVito
49
Votes |
115
Posts

Help Wanted - Creative thinking caps to make this happen

Mariel DeVito
Posted

I have been waiting on a HELOC application to finance my first multi family purchase. I was buying time as the back up offer and tonight, I got the message saying that it fell out and I'm in. My HELOC application, now 7 weeks in the making, is still not approved. I was told it was 30 days and then now 30-45 days to close. I want to be optimistic that it would come through in the next week but I need a plan B. I have two other investment properties that have at least 80K in equity, which is more than what I need. Problem is neither is in an LLC and one was just a 1031 exchange. I need to close in 30 days. What are my options? Plan C is to liquidate some assets but it's cutting it really close...

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