• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Need Financial Help

C

Caveman

Platinum Member
Home Equity Line of Credit... I pulled one out on our house to use the cash for investments...

All is well but I'd like to sell the home now that's backing the loan. How does this work? Am I obligated to pay back the loan as soon as I close the sale on the house, or can I just keep it open, making payments on it just like when it was written agains the equity on the property I owned?

 
It gets paid back when the house closes. Since a HELC is like a 2nd or a 3rd mortgage, you can't keep it when you no longer have the asset backing it.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top