Updated almost 3 years ago on . Most recent reply
I can't get a HELOC?
Help! Small investor here with 4 properties. 13 years ago we had a ch7 bankruptcy which included a house. That house was foreclosed on in 2018. Yes 8 years later. Since that time we have bought 4 rentals. Problem is I have been looking into a heloc on our main home but I keep hearing the foreclosure wad complete in 2018 and you have to wait 7 years. No issues with credit or income. Any thoughts/help/advice? Thank you. Paul.
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@Paul Scammacca- thanks - the timelines for HELOCs after a CH7 BK will likely vary quite a bit for heloc lenders ...mos 1st mtg lenders will require 4 yrs from discharge or 7 yrs if you have filed multiple times ...I would recommend trying 1) the present 1st mtg lender 2) the place where you bank 3) smaller to mid size credit unions or banks in the area close to the property - good luck