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I have paid off the mortgage to my rental property in Austin,Texas & want to obtain a Heloc

Posted on: 20th Apr, 2009 03:59 pm
Is there a bank/co that will provide that service?
Hi saka,

As your mortgage has been paid off and there is enough equity in the property, I think you can qualify for a heloc. You haven't mentioned your credit score etc. What is your credit score like?
Posted on: 21st Apr, 2009 12:01 am
Hi saka12,

In my opinion there is not any Bank/Co to provide that service.

Because you are not real owner of the property you are a rental property taker so you not need to pay nothing to them. No any back or company providing this service in Austine. They have not any policy for give mortgage to rental property.

If would you like to buy new property they will provide loan to you.

Regards,
Daniel.
Posted on: 21st Apr, 2009 12:11 am
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