|
Question about Refi and HELOC
| Posted By |
Message |
Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
|
Question about Refi and HELOC
Has anyone successfully refinanced their first mortgage even though they also have a second mortgage (heloc) by having the bank of the 2nd mortgage subordinate the loan.
Someone told me that the banks wont do that anymore. Is this true?
|
Posted 7/27/11 1:55 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
|
|
Re: Question about Refi and HELOC
I just did 2 refi closings where they subordinated the HELOC..it was with Citibank though. Nit sure if all banks are ok with this or just a few.
|
| Posted 7/27/11 10:12 PM |
| |
|
Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
|
Re: Question about Refi and HELOC
Posted by EclecticEsq10810
I just did 2 refi closings where they subordinated the HELOC..it was with Citibank though. Nit sure if all banks are ok with this or just a few.
Ok thanks. I am going to call mine tomorrow ans see what they say.
|
| Posted 7/28/11 7:43 PM |
| |
|
Deeluvsvinny
DONE
Member since 10/08 4952 total posts
Name:
Whatever
|
Re: Question about Refi and HELOC
Most banks will subordinate your HELOC is you have enough equity in the home. You need to have it appro ved by both the new lender for your refinance and the current lender on your HELOC.
|
| Posted 7/29/11 9:06 AM |
| |
|
Potentially Related Topics:
Currently 95310 users on the LIFamilies.com Chat
|
