Posted on April 17, 2011.
I want to open a home equity line of credit. I have 100% equity in my house and year excellent credit rating. I am planning on moving, goal Would Like To Buy Another House First, And Then sell my current house (Which Would sell for A Higher Than The price i would buy one).
If I Use The equity line to buy a house, Would The Bank allowed me to sell my current house and pay 'em off At The closing? Kind of a bridge loan Without the fees.
Lane Velverton says...
I agree with Ibu Guru, I think you are making a big mistake, do not use a loan to get another loan, payoff the first house and save to purchase another, remember that the people who are being foreclosed are those that have mortgages.
Posted on April 21, 2011
