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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Line of credit + JBB? Posted by Ward-CA- on August 20, 2003 at 10:14 PM In Reply to: Line of credit + JBB? posted by Cary on August 20, 2003 at 10:05 PM : Ward, : From reading your archives, I believe a home equity line of credit (HELOC) is just like a typical trust deed, the priority of the lien is based on the time it is recorded, but the principal can fluctuate. : Does that mean that if I am doing a junior bene buyout on the 2nd trust deed (for cashflow purposes), there should not be much of a concern on a HELOC if it is in 3rd position. Is that correct? : Thanks for your help. : Cary =============================== Cary, No, you don’t do a JBB as a source of continuous cashflow, like holding a promissory note for its income. Your 2nd position should result in a full payoff, due to a refinancing or resale of the property. Follow Ups: Re: Line of credit + JBB? Cary 3:46 PM, 08/21/03 (0) Re: Line of credit + JBB? Cary 10:20 PM, 08/20/03 (2) Yes, a HELOC makes a difference... Ward-CA- 8:32 AM, 08/21/03 (0) Re: Line of credit + JBB? Lughead 0:08 AM, 08/21/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : From reading your archives, I believe a home equity line of credit (HELOC) is just like a typical trust deed, the priority of the lien is based on the time it is recorded, but the principal can fluctuate. : : Does that mean that if I am doing a junior bene buyout on the 2nd trust deed (for cashflow purposes), there should not be much of a concern on a HELOC if it is in 3rd position. Is that correct? : : Thanks for your help. : : Cary : =============================== : Cary, : No, you don’t do a JBB as a source of continuous cashflow, like holding a promissory note for its income. Your 2nd position should result in a full payoff, due to a refinancing or resale of the property. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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