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Real Estate
Reply to "Take HELOC and then move within a year or two?"
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[quote=Anonymous][quote=Anonymous]Wouldn't the lender for house #2 object to this plan? (They would know the origin of the downpayment)[/quote] If OP draws the downpayment from the HELOC and places it in a money market account before shipping for a mortgage for house #2, the new lender would just see a current house with a mortgage and a HELOC and money for downpayment in the money market account. Why would the new lender complain, assuming OP qualifies for a new mortgage (and can repay the two claims in house #1, in part with rental income)?[/quote]
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