I utilized a HELOC along with 2 other lines of credit.

Hi, yes its is zoned RT-4 I have the zoning certificate There is no basement water seeped in during a really bad storm fema even declared it.

**Stress your *"Credit Improvement Plan" by making up the arrearage and continuing the payment stream.

You will lose your homestead exemption which will raise your taxes, so consider that if you decide to hold.Being an OOS landlord myself, it's not that bad as long as you find a good PM and the house is in descent shape, you vet your tenants well and have protections in your lease.

I was wondering if there are any major differences in lending companies that work with home equity lines of credit (heloc)?

My place was on a bad looking street with a drug dealer living next door and for a while there were people living in their car next to my place and then a guy living in his truck in the alley.

They will have a mentor that will work with them and connect them to resources (credit repair/employment/childcare/education/etc) so that by the time the balloon is due, the tenant will be able to qualify for a mortgage. 

the deal works really good on paper , its not in a bad area its actually in a decent little community with a k-5 across the street and all that. neighbors are cool too . just met them yesterdayPretty much all systems are go , the wife is on board, the price is right , otherwise a great deal but these weird things the guy that built it chose to do..

In order to book a showing they have to answer several questions like is their credit score 600 or higher.

A downfall of this process is the lack of tenant screening (background, credit, eviction checks) as far as I'm aware of.