TD Bank HELOC experience

[Beverly Buella]

Hi there,

Just wondering if anyone here has any experience doing a HELOC with TD Bank, ideally in one of the 5 boroughs in NY, but anywhere really, would be helpful.

I am working with my aunt who owns a 3-unit building in Brooklyn. After talking to a few local banks to where the property is, TD Bank seems to be the one we are leaning towards.

I am sort of facilitating the process for her, being that she's older and retired, she doesn't want to be bothered/inconvenienced too much with paperwork, etc.

I read on another blog that there is a TON of back and forth, which I can see to be very annoying to her. Just wondering if that was the same experience for anyone else and whether it is avoidable.

I'm just curious what your experience was like and also whether you had an interior appraisal done. Not like she has anything to hide, but it's just something that I could see she would not want to be bothered with. Besides, she is only looking to pull $75,000 (hopefully more) but the property is worth close to $500k so I don't see why it would be necessary to do an interior appraisal- just a thought.

Thanks for any feedback-

Beverly