Heloc On Subject 2, Can You Get One?
I have a property subject to and it has about 80k equity. Can I take out any type of loan to get some of that money out or will it raise a red flag seeing hte first is in someone elses name?
I have a property subject to and it has about 80k equity. Can I take out any type of loan to get some of that money out or will it raise a red flag seeing hte first is in someone elses name?
well the first is for 200k a 5.25%, pretty good rate on a good chunk of change!
Yeah, if it’s a fixed rate, that’s awesome. And if you’re hanging on to the property for a while you’ll want to keep that in place.
About the only thing I can think of is to start shopping for a lender who doesn’t having seasoning issues. Or, sub-to issues for that matter.
Has anyone got a HELOC on a house they took Subject To? Investment property or owner occupied? It looks like some lenders might be more lenient on this than others so please name your lender.
JohnCl
[ Edited by JohnCl on Date 09/06/2006 ]