Came across this story about a Simpsons episode where Homer loses his home to foreclosure after his ARM adjusts and him taking out a HELOC loan for I believe a huge Mari Gras party.

Or are some of these HELOCs that were used for other purposes.

I agree with the HELOC suggestion.

I'll contend that's exactly what most people who did refis or HELOCs during the bubble did.

I could also theoretically get a HELOC from my credit union up to 90% LTV of the townhouse.

I want to get a 30 yr fixed to drop the payment and it should come out around $550/mo PITI and HOA. my problem is the HELOC, and i lost my job so i cant just go get a loan.

More importantly, if there is a second-place lien-holder on the property (like a HELOC or second mortgage), you'll also have to negotiate the second and get agreement on the deal from that lien-holder.Who is doing the bank negotiations?

She really wants to help me with this deal so she mentioned to me a HELOC to finance me.

HELOC for 75% of assessed value based on county assessors page (15 year draw). 2.

I purchased the house with my HELOC and rehabbed it and now will refinance at those terms so that I recoup 100% of my invested money, thus I have no money into the property at this point.