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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Juggling Institutional Lenders Posted by SeanW on October 25, 2003 at 9:54 PM It looks like I'll be getting my 2nd trustee sale success story soon. The N.C. upset period ended Friday, with no other bidders. (Sometimes there's some last minute legal maneuvering which can undo a sale... but I doubt it will happen in this case. These trustors have already tried the BK gambit, and the house has been abandoned.) As it turns out, I just closed on a HELOC for my first purchase on the same day! Now-- let's say I change my mind which house I want to move into. (The second one is near the center of town and would be more convenient for future investing/scouting.) If I try to get an owner-occupied HELOC on the second house, do lenders share this data? I.e. will lender #2 look in my credit file and say "you already have an owner-occupied HELOC, we can't issue you another one". In my mind, this isn't fraudulent. I did intend to move into house #1. It's just... that opportunity knocked! Follow Ups: Re: Juggling Institutional Lenders Travis-CA 1:29 AM, 10/26/03 (1) Re: Juggling Institutional Lenders Rick Harmon 7:33 AM, 10/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : It looks like I'll be getting my 2nd trustee sale success story soon. The N.C. upset period ended Friday, with no other bidders. (Sometimes there's some last minute legal maneuvering which can undo a sale... but I doubt it will happen in this case. These trustors have already tried the BK gambit, and the house has been abandoned.) : As it turns out, I just closed on a HELOC for my first purchase on the same day! : Now-- let's say I change my mind which house I want to move into. (The second one is near the center of town and would be more convenient for future investing/scouting.) If I try to get an owner-occupied HELOC on the second house, do lenders share this data? I.e. will lender #2 look in my credit file and say "you already have an owner-occupied HELOC, we can't issue you another one". : In my mind, this isn't fraudulent. I did intend to move into house #1. It's just... that opportunity knocked! 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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