You want a title search to be sure there are no other liens, such as a HELOC, tax liens, water liens, or anything else.

Cash-out Refi OR Home Eq Loan OR HELOC

My home is free and clear and I have a $250,000 HELOC.

Our score dropped to 650ish, BOA cancelled/froze 4 heloc's and dropped a credit card limit from 50K to 14K (after a routine check).

She was only able to tell me that the $100K HELOC is in default, not the primary mortgage.

Hi all, newbie here again :lol: I was just wondering if there is a certain amount of time that must pass before I could refinance a loan on a home If I purchased it as a shortsale or REO.For ExampleShortsale purchase price $260kMarket value at time of purchase $300kA little time goes by and appreciation makes value = $340kIs there a time limit or any restrictions on refinancing or getting a HELOC/2nd.Thanks in advance

I am trying to explain to him the value of buying our next property with cash to get a better deal and then pulling the equity out with a HELOC or other form of debt.

If there is a second mortgage, was it used to purchase the home or was it an HELOC.

. $500 goes to HELOC.

I have taken out a HELOC at 70% on the second to have cash on hand for further investments or similar buying opportunities.