Investment property is not the same as your primary residence.

Investment_Loan, for those few banks who still do cash recapture loans on non-principal residences (i.e. investment properties) they will likely require you to hold title for 6-12 months and definitely charge a higher interest rate on the loan than normal residential mortgage rates.

Fingers crossed).If I am understanding, your HELOC is on your primary residence, correct?

I assume one of the counties of residence turned their computer off at night.

My incentive is personal residence, & building capital to develop.

Since jobis one where I can move to anywhere in the country, I decided last September that I would give myself two years to finish all the "half completed jobs" to my primary resident, sell it, move to "flyover country," and buy my first rental property by October 2009.

They are highly desired properties, regardless of whether they are owned by individuals that can afford to live in them as their primary residence, or renters that want to vacation in them and live well for a week or two.

Only issue I have heard of is when you apply for your next "primary residence" mortgage.

Horton, Meritage, Richmond American), unfortunatly too many eggs in one basket, but I've regrouped and things are pretty good right now, still could'nt stop a foreclosure on my primary residence, no work and massive medical bills is a bad combo :violin: .So for now I'm lurking, no more bills, debt free and getting ready for action.

Insurance on a rental property is almost the same as on my primary residence, despite the rental being worth a third of my primary residence.