Using a HELOC before a Sale

[Tony Thomas]

We have a quad that has a HELOC on it. We are thinking about using that HELOC to make the down payment on a new property. We are also looking to sell that quad. If there is an outstanding balance when we sell the quad, would that just be rectified by the title company? Are there any pitfalls, landmines, or possible penalties that we need to be aware of before using the HELOC?