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Posted by Steve Horrillo on October 21, 2005, 9:18 pm
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> We can get
> you a HELOC (Home Equity Line of Credit) that is in a 1st position, then
> you
> can use the checks that you get to make any kind of purchase you want to
> the
> limits of your HELOC. The HELOC will be capped at 80% of the value of the
> property,
If someone elderly (72 yrs old) owns a 500k home free and clear but needs an
exra income of about $800-$1000 a month, would a reverse mortgage or a HELOC
be better?
--
Warmest regards,
Steve Horrillo, Realtor / C.Ht. =^..^=
http://BrokerAgentTraining.com http://over100percent.com http://HipFSBO.com
http://eLOWn.com
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