HELOC credit criteria

[Jose Diaz]

Hello to all. My wife and I are interested in obtaining a HELOC from a property we recently purchased. The property has more than $100k in equity however we are wanting to obtain 75-100k. We recently got denied at Bank of America for a HELOC and their decision was based on a bankruptcy that we have close to 3 years ago. They expressed their "wait" time for accepting applications is 4 years from date of discharge.

I was considering using lending tree as a means of being guided to lenders that may vary on their "wait time" but wanted to ask here if there is a general wait time for obtaining a HELOC? Is anyone aware of lender requiring less time?

Thank you