All Forum Posts by: Michael DeVane

@John Morgan

I wouldn't save the old dog. He shouldn't have peed on the floor.

@Kerry Baird

Kerry,

Thanks for your input on this. I will take a look at some of these before making a decision. Just fyi, Wells Fargo is the one firm that I found offering this HELOC here in Metro Atlanta.

After extensive research on HELOCS, I found only one bank (or credit union) that offered a HELOC on rental properties. They only allow a 60% LTV and a rate of 6.125% based on prime of 3.25 plus margin of 2.875. Is this typical of what the rest of you find for these? Thanks in advance for your advice.

@Russ B.

By legitimate debt, I meant that I checked with Direct TV and found that their service was provided to the tenant and the tenant didn't pay them for it.

@Marcia Maynard

The tenant is still renting. I found out about this when the collection agency called for me to pay. I have verified it's a legitimate debt. I am currently working with the tenant to get them to pay. I have no idea how they were able to do this. Apparently Direct TV will set up an account with just an address and an email address. Thanks for your advice on the matter.

@Nathan Williams

Thanks. I will look into that.

Should I pay collection agency with Tenant's deposit money, report ID theft, or what?