 Credit Line (by Praveen [MO]) Jun 21, 2010 7:58 AM
 Credit Line (by Carolyn [MO]) Jun 21, 2010 8:01 AM
Credit Line (by Carolyn [MO]) Jun 21, 2010 8:02 AM
Credit Line (by Virden [OH]) Jun 21, 2010 8:11 AM
Credit Line (by MJ [PA]) Jun 21, 2010 1:03 PM
Credit Line (by Praveen [MO]) Jun 21, 2010 2:08 PM
Credit Line (by Reid [KS]) Jun 21, 2010 3:43 PM
Credit Line (by Praveen [MO]) Posted on: Jun 21, 2010 7:58 AM
Message:
State Specific Question About: MISSOURI (MO)
In May 2010 i bought a single family home paid cash.the property has been rented out. i have spoken to a few local banks and credit unions for a credit line i have been told they do not give out credit line for second homes.i want the credit line to buy another property.can anyone please advise. --66.190.xxx.xx |
Credit Line (by Carolyn [MO]) Posted on: Jun 21, 2010 8:01 AM
Message:
Many years ago I took out a home equity line on my own personal home. At that time, that was the only way I was able to get funds, although I was uncomfortable with doing it.
It was a wise decision. I could be a "cash" buyer from the viewpoint of a seller, and that enabled me to get better deals.
At the end of ten years when it expired, I didn't bother to renew it as I was no longer making any acquisitions and had other sources for money. --205.188.xxx.xx |
Credit Line (by Carolyn [MO]) Posted on: Jun 21, 2010 8:02 AM
Message:
To add on, have you tried getting a mortgage on the first property, rather than a credit line? --205.188.xxx.xx |
Credit Line (by Virden [OH]) Posted on: Jun 21, 2010 8:11 AM
Message:
The banking debacle has many who threw someone elses money around now holding tight as they lost it the other way. --76.241.xxx.x |
Credit Line (by MJ [PA]) Posted on: Jun 21, 2010 1:03 PM
Message:
A line might be difficult but you may be able to get a cash out refinance at 60-70% LTV through a good mortgage broker. --12.161.xxx.xx |
Credit Line (by Praveen [MO]) Posted on: Jun 21, 2010 2:08 PM
Message:
The banks have no problem giving a line on my personal home.i was going to Quick claim the investment property to a new LLC and use the line to buy more.if possible i wanted to keep business away from personal. --66.190.xxx.xx |
Credit Line (by Reid [KS]) Posted on: Jun 21, 2010 3:43 PM
Message:
Look for a motivated seller who will carry a note --70.130.xx.xx |
Reply:
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