All Forum Posts by: Ethan Griffel

@Leonard Rybak good point! Thanks!

@Suzie Remilien thank you!

@Scott E. Thanks for the input! Seems like that should be ok!

@Kerry Baird thanks for sharing! I'm hoping that's what could be done!

Hello all! I have a question regarding an open HELOC on my primary residence with an outstanding balance. I am considering buying a new home to be my primary residence but would like to keep the current one as a LTR. Does anyone know how that would effect the open HELOC? Would I be required to pay it off because the house would now be an "investment property" and most banks don't like to do HELOCs on those? I'm planning on reaching out to my loan officer as well. Just curious people's thoughts or if they have delt with this before. Thanks!

I currently have a HELOC with an outstanding balance on my primary residence. I'm curious if I were to move out of that house but keep it as a long term rental would I be required to close that HELOC? I know most banks don't allow HELOCs on investment properties which I assume it would become classified as in this situation.

@Justin Moy it's just myself at this point so no investors! Thanks!

@Kyle Mccaw thanks for the advice. I've been using stessa to this point and only recently acquired my second property!

@Theresa Harris that was my concern. Having multiple accounts felt like it may be to difficult to keep them all straight.

@Allen Wu thank you!