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Deegee · 01-23-2013, 06:03 PM

I wish people would stop recommending LoCs against their residence. I see so many people max them and then make interest only payments.

It works for 5% of the population out there, and fails miserably for the other 95%. Your primary mortgage holder should be able to give you a second mortgage at first mortgage rates without any issue. I know our Credit Union would.

01-23-2013, 06:03 PM	#18
Deegee First Line Centre Join Date: Mar 2006 Location: Edmonton, AB Exp:	I wish people would stop recommending LoCs against their residence. I see so many people max them and then make interest only payments. It works for 5% of the population out there, and fails miserably for the other 95%. Your primary mortgage holder should be able to give you a second mortgage at first mortgage rates without any issue. I know our Credit Union would.