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Updated about 5 years ago on . Most recent reply

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17
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3
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Ketan Parekh
  • Duluth, GA
3
Votes |
17
Posts

Line of Credit with a 2nd Deed

Ketan Parekh
  • Duluth, GA
Posted

Hello!

I have 15 condo all rented and off the 15 , 10 of them have a commercial mortgage on them. My credit History is in the 700s. 

Here is what I would like to do :- 

Based on the LTV of the 5 ( fully paid ones ) properties I would like to get a Line of Credit and than find a mechanism to do a 2nd deed of trust behind the 1st Line of credit.

Is this even possible ? basically I want the money available to roll as I start paying towards the principal. 

Thanks in advance for your advise. 

~Ketan

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