House had limited equity in 2012, ch7 discharged Dec. 2012.
Suntrust modified terms in 2011 in house modification. 40yr note currently at 5% fixed with 43k
interest free balloon due at end of 40yr term. No other loans or leins.
Been here 5 more years as a stay and pay.
Balance is 290k , Added a large addition, home is now worth 400k+
Im looking at a 50k line of credit to rehab this and another rental property I own.
Should I be ok with this? I really have no desire to refinance the entire amount, as I never reafirmed the loan.
Suntrust modified terms in 2011 in house modification. 40yr note currently at 5% fixed with 43k
interest free balloon due at end of 40yr term. No other loans or leins.
Been here 5 more years as a stay and pay.
Balance is 290k , Added a large addition, home is now worth 400k+
Im looking at a 50k line of credit to rehab this and another rental property I own.
Should I be ok with this? I really have no desire to refinance the entire amount, as I never reafirmed the loan.