Lastly, when the tenant moved out I kept their security deposit to cover some of lost rent but they still had a balance owed to me(more than the security deposit and this recent check).

Hi Tim, buyer offering 155000 cash..no mortgage..5yr term balloon payment at 5th year for remaining balance of 30000..interest rate of 4%eviction time usually 3 months. could be longer..expense I don't know..I would be in first place lien on property

On most HELOC's you will have 10 years to use the cash as a credit card type basis, after 10 years, you can no longer draw on the line of credit and must payback the balance over the next 20 years.If you want to restore your ability to draw on the HELOC, just replace the HELOC with a new HELOC.

I am working on securing a purchase of vacant land - 50% down and seeking a loan for the balance within 6 months.

@Dave Meyer your survey won't work for people with portfolio balanced between different segments / types as each has it's own concerns / strategy.

Now that's creativity.I do think there will be increased investor demand if we add more listings and start to crawl our way back to a balanced market.

Heloc versus Commercial Line of Credit in Maryland- Recourse or Non - Recourse loansHope all in the community are well and navigating safely during this moment in time.I had questions as trying to free up some cash for situations to handle mortgage payment for rentals when tenants stop paying due to the situation/ possibly purchase below market homesIs it wise to do a refi with cashout on my 2nd home with no loan balance versus getting a heloc in marylandAlso in Maryland is a heloc loan a Recourse or Non-recourse loanHow about getting a Commercial line of credit on Rental property is that a good wise decision versus doing a refi with cash out, since its hard to get a straight heloc on Rental properties.Please advise, Thank you all stay safe.

I truly believe our financial education component plays a significant role in this, conveying the moratorium has zero protection to the impact of credit reporting showing past due and accruing amounts, that tenants may DEFER rents which means still due and owing just payable at a later date, AND the impact of a deferred accruing balance and potential for future evictions.

You could fix the cashflow bleed by refinancing to your current mortgage balance for another 30 years.

@Kadeen E Lyons1) First, you can't take a loan from an IRA but may be able to take a loan from your 401k - either traditional or under the CARES Act (check with the administrator).2) Here are the general considerations regarding 401k loans.401k Participant LoansIf your 401k plan allows for 401k participant loans, the maximum loan amount is equal to 50% of the balance up to $50k.