Updated almost 4 years ago on . Most recent reply
Playing the bank game
Hello all, I currently have a HELOC on my personal property for $15,000.00, which I used to pay for a down payment on a rental property. My intentions were to pay off that, then buy another rental property in the same manner. However, I also want to buy sooner. I also have an unsecured line of credit for $25,000. Would the bank frown upon me using my unsecured line to pay off my HELOC in order to use the HELOC money?? Since the bank generally won't accept unsecured line money.