2007-11-24 00:58:06 · 3 answers · asked by JAMES L 1 in Business & Finance ➔ Renting & Real Estate
That will depend on how much equity you retain after the first and second mortgages are deducted from the value of your property. I'm guessing that, with a first AND a second, your equity has been pretty well drained. That would preclude an additional HELOC.
2007-11-24 01:08:00 · answer #1 · answered by acermill 7 · 2⤊ 0⤋
that is a scary thought. What happens if you lose your job and/or have to move to a different area. There would be no way possible for you to be able to sell it for what you owe on it. Read down the questions everyone is looking only for foreclosures, short sales and low ball offers, no one wants to pay for what anything is worth retail anymore.
always consider what could happen if.....
2007-11-24 01:40:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you have the equity to cover those loans.
2007-11-24 02:55:54 · answer #3 · answered by godged 7 · 0⤊ 0⤋