![]() |
Foreclosure Forum |
|
HELOC with Home Held In Trust((NOTE: Ward, below is a follow-up question from an old post. I'm reposting here since it's buried down in the discussion board.)) : : Ward: : : How do you refinance a property where the title is held in trust? The lender will place a deed of trust naming the borrower as the : : Gary : =•=•=•=•=•=•=•=•=•=•= : Gary, the trick to getting a loan made directly to your trust (I have 6 of them now) is to ask your lender for a “portfolio loan”, one : Right now I’m using Wells Fargo’s equity line of credit on my no-owner occupied properties. They will lend 70% of fair market : The beneficiary of the trust is the qualifying borrower and signs the promissory note. The trustee of the trust signs the deed of : If you are in CA you might want to make your loan directly through my branch of Wells Fargo @ 619/543-0096 since they : Hope this helps. Will Wells Fargo or any other lender put a home equity line of credit (HELOC) on a home that I own in trust but the underlying Gary C.
Follow Ups: Post a Followup:
|
Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.
Copyright © 1997-2002, InnoVest Resource Management
InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455