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Updated almost 5 years ago,
Line of Credit with a 2nd Deed
Hello!
I have 15 condo all rented and off the 15 , 10 of them have a commercial mortgage on them. My credit History is in the 700s.
Here is what I would like to do :-
Based on the LTV of the 5 ( fully paid ones ) properties I would like to get a Line of Credit and than find a mechanism to do a 2nd deed of trust behind the 1st Line of credit.
Is this even possible ? basically I want the money available to roll as I start paying towards the principal.
Thanks in advance for your advise.
~Ketan