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Updated 8 months ago on . Most recent reply

User Stats

7
Posts
2
Votes
James Mercer
  • Investor
  • Destin, FL
2
Votes |
7
Posts

Using HELOC on a subject to deal possible or not?

James Mercer
  • Investor
  • Destin, FL
Posted

Hypothetically, if I took over someones existing mortgage subject to and owned the property cause I have the title now, would I be able to get a home equity line of credit or equity loan on that property if it had a good amount of equity? Do I have to get lines of credit or equity loans from the same bank or can I have a mortgage with one bank and a HELOC with another bank for the same property?

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