Home equity loan

Old Dec 3rd 2003, 7:43 am
  #1  
Eduardo
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Default Home equity loan

Hi, does anybody know if it would be acceptable to take a home equity
loan to show proof of funds at the begining of the application
process?
I am thinking about this because the funds from a home equity loan are
not really encumbered, since once I sell the house the loan would paid
off.
Thanks,
Ed
 
Old Dec 4th 2003, 3:49 am
  #2  
Http://Www.Iamnotamerican.Com
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Default Re: Home equity loan

in a recent article, Eduardo ([email protected]) said:

    > Hi, does anybody know if it would be acceptable to take a home equity
    > loan to show proof of funds at the begining of the application
    > process?
    > I am thinking about this because the funds from a home equity loan are
    > not really encumbered, since once I sell the house the loan would paid
    > off.

This would not be acceptable as you would be further in debt. A loan is
a loan is a loan. Of course the funds are encumbered because you need to
sell the house to pay them back.

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