i need a short term loan (40k) against the equity in my primary residence. i own it free and clear. it's valued at 65k. i have no stated income. credit score 675. $0 debt. i've inquired at the banks about heloc, but h...

One thing I know is that no matter what your circumstances, if you look at all the possibilities, and find one you CAN do, you can take the first step, then the next, etc.

There are exceptions, not many, circumstances may force an owner out and your price might be his best way out, but that means you're probably paying too much too!

Also,we are not obliged to pay costs, legal fees or expenses for these matters.3.1 General risks which are excluded.Risks which:(a) cause you no loss or damage;(b) you create, allow, assume or agree to at any time;(c) arise because you did not pay full value for the Land;(d) are known to you, but not to us;(e) occur, come into existence or appear in Public Records after the Policy Date, other than those risks insured underClause 2.2;(f) arise out of or relate to any business activity. 2.2 Risks occurring after the Policy DateWe insure you against the following Covered Risks only if the circumstances creating or giving rise to these risks occurafter the Policy Date.Forgery, fraud and mistake(a) an instrument is registered or otherwise recorded by which someone else claims to have an interest in or anencumbrance, charge or lien on the Title to your Land because of;(i) an act of forgery, fraud or misrepresentation; or(ii) a mistake by a title registry or a governmental or local authority.Encroachments(b)someone else builds a structure, other than boundary walls or fences, which encroaches onto your Land.

I don't pay any higher just in case I have to sell it right away due to unforeseen circumstances - never know if a better deal comes along right in the middle of escrow!

Many owners of C/D properties convince themselves that they are achieving significantly higher rates of return on their properties when in reality they are merely neglecting to account for their time. 

One year unless you have extenuating circumstances (job transfer, wife gets pregnant with triplets in a 1 bedroom, etc).

Guys please provide feedback on this circumstance.

Guys please provide feedback on this circumstance.

He neglected to notice that while his equity increased due to the market conditions, not due to his genius, he over extended himself.