I just purchased a rental for cash, using the HELOC on my residence (I got a better deal paying cash).

* To move my HELOC into investments fast before it is closed.

first and foremost most of the national banks no longer will do HELOCs on NOO (non-owner occupied) properties. infact, i can't think of any that DO still do that. a cash-out refi would be your best bet if you qualify. also, 'good personal credit' will need to be 'excellent personal credit'.

With the easy HELOCs even that went away.

My long term goal is to take out HELOC on the new house and use it for investments.Please let me know what you think.Thank you, Paul

I have great credit, and around 100k HELOC Basically is the REO agent correct that only cash buyers should pursue these types of properties, or is he Bsing me and just wants cash buyers because its easier to deal with?

I have a HELOC that I can use if I want to.Is the property your looking at in Trenton?

I wanted to ask here before finding a Broker, etc...Thanks and I was hoping I could get a HELOC.

- What if there is a primary value of $400,000 and the mortgage was say, $300,000, so someone took a $100,000 HELOC?

Back in 2008, I took $110K HELOC from my personal residence and bought two SFRs near Austin, TX using financing with 20% down.