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If you have refinanced your mortgage and had to subordinate a home equity line of credit (HELOC) PLEASE come in!
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Budjeg11
LIF Adult
Member since 4/11 2644 total posts
Name:
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If you have refinanced your mortgage and had to subordinate a home equity line of credit (HELOC) PLEASE come in!
DH and I are in the process of refinancing our mortgage and we have a HELOC which we would need to subordinate in order to complete the refi.. I am just wondering what is involved in the subordination process.. does the HELOC lender do another appraisal? Ask for W2s? Paystubs? Work confirm?
Thanks so much in advance
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Posted 1/6/13 9:51 PM  |
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Aubreysmommy
LIF Adolescent
Member since 5/10 499 total posts
Name:
Baby Noelle is here!
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Re: If you have refinanced your mortgage and had to subordinate a home equity line of credit (HELOC) PLEASE come in!
I had to subordinate my HELOC (it's through GMAC) and all I had to do was write a check for the subordination fee ($200) and BOA took care of the rest for me.
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| Posted 1/7/13 6:52 AM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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If you have refinanced your mortgage and had to subordinate a home equity line of credit (HELOC) PLEASE come in!
Our HELOC is with the same bank as our mortgage. Therefore, we didn't need another appraisal done, etc. I would think that because you are refinancing, the appraisal that you get for the main mortgage would be fine for the HELOC bank as well. The main bank should take care of everything for you.
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| Posted 1/7/13 2:56 PM |
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