Just curious: Where do HELOCs (Home Equity Lines of Credit) fit in to the whole subprime/mortgage co bankrupcy situation?
If we have a few HELOCs with unused balances, do we need to be concerned that they might be pulled back? (e.g., $300K HELOC, only $130K used, $170K balance still avail).
Financing our RE development w/HELOCs on our appreciated (finished) properties is a key element of our overall PLAN, so if anything happened to the HELOCs we have gotten, we'd be in a bit of a pickle. :smx8:
Any mortgage brokers or other experienced loan folks out there willing to comment?
Thanks,
-Russ H.
If we have a few HELOCs with unused balances, do we need to be concerned that they might be pulled back? (e.g., $300K HELOC, only $130K used, $170K balance still avail).
Financing our RE development w/HELOCs on our appreciated (finished) properties is a key element of our overall PLAN, so if anything happened to the HELOCs we have gotten, we'd be in a bit of a pickle. :smx8:
Any mortgage brokers or other experienced loan folks out there willing to comment?
Thanks,
-Russ H.
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