Hi , About a year ago , I purchased my primay home in freehold nj with no money down using collateral from my stock brokerage - thus no equity in my new house. I thought I was being prudent by applying for a heloc on my former residence before moving - a two family in Staten island that has skyrocketed in value. I was trying to juggle both the heloc and the new mortgage at the same time .

Long story short my appraisal on my Staten island NY residence came up short by a considerable sum. I tried disputing it with the bank sending them more appropriate comps but it was to no avail.  I didn't want to go to a different bank due to being close to closing on my new house and grudgingly accepted the low estimate. 

A year later I find myself in a position where I feel that a large chunk of my equity is trapped in my investment property. 

Any advice . Anybody know of a bank in new Jersey or New York that gives helocs on an investment property?

Thanks Denis