Updated about 6 years ago on . Most recent reply
Is possible to change the Mortgage for a HELOC?
Hi BPs,
It is possible to switch from a mortgage to a HELOC 1st lien?
I contact a couple of banks and they are all willing to do a 2nd lien on my house for the HELOC but I haven't been able to find a bank that is willing to do a HELOC for the amount that is going to pay off my mortgage and start the new HELOC with that balance + any equity remaining as available funds.
It is actually possible to do this? or i need to have a heloc with an available balance high enough to pay off the mortgage?