I would love to know how HELOC works, the money I borrow would go to a new loan or add to the existing mortgage?

On your HELOC application, did you request an amount you wanted to borrow or just the maximum LTV?

I have no problem with borrowing on my HELOC to flip houses but my wife would like to own rental properties for cash flow...I can’t wrap my head around going into debt for a small amount of cash flow… I feel like the push here is so focused on growing Large to accumulate cash flow while putting very low emphasis on the risk of the debt that is also accumulating.

I understand that not all borrowers are proceeds driven, some are focused on low leverage, full-term IO or merely shortened hold periods and prepay.

Borrowers can request for loan modifications to postpone the sale many times.

We don't normally talk about a borrowers success and profitability, but we absolutely need our borrowers to be successful and profitable.

The borrower has a conventional loan and there will be an excess in seller contributions because it cannot go towards pre-paids or buying down the rate.

Done all the time for out of state borrowers.

Hey Guys,One of my paying borrowers has unfortunately passed away.

If you cannot find the borrower I would secure it and check out interior to see if it is worth foreclosing on.