Creative Financing with Special HELOC...

[Jason Powell]

What is your experience with getting a HELOC (home equity line of credit) for the full 90% value of your home, regardless of mortgage? In other words, let's say you owned a home valued at $200k, and secured a HELOC for $180,000. Even though you still had a $150,000 mortgage on the property, you were still able to utilize 180k in credit (let's say for REI), instead of the traditional model (180k-150k = 30k heloc)? Anyone had experience with this broad use of HELOC without regard to mortgage?