HELOC on Co-op

Bank of New York/Mellon

thank you NYCMatt.

Heloc and buy sprint.

Ours is from Chase.

Thanks ReMom. How recently did you get it?

know a guy getting it from BoA

Thanks Caonima. My current mortgage is with Wells Fargo. I was thinking of refinancing and getting a HELOC in case I see another real estate investment opportunity. Unfornately Wells Fargo no longer does HELOCS on Co-ops. Is it important to have my primary mortgage and HELOC at the same bank?

"Is it important to have my primary mortgage and HELOC at the same bank?"

Not usually.

Thanks NYCMatt. I see you post informative information on many threads...what is it you do?

I'm a media consultant and network television writer and producer. What do you do Matt?

nycmatt is king of his coop -:)

uws matt, banks normally don't want to be primary lender and heloc creditor at the same time to avoid correlated loss

Mattw84, we got ours 5 yrs ago, but I know Chase is still in the HELOC business because we recently got an offer from Chase to increase our limit.

As a 'former' banker, I don't remember lending money to a negative cash flow and questionable assets. But herez it iz! Home equity line of credit. Its as if the criteria for capital formation is in some black hole, where debits/credits, +\- cash flow, assets/liabiities somehow had sex with cats and donkeys and the result was => helocs!

Like crack being dispensed by Harvard med school. Like whores paying YOU to have sex. Like cops robbing its citizens.

You wanna make money for doing nuthin, play lotto.

Why the fk is my sprint down 1% today. I'm like a re bull. Now that it's gone up 120% in 5 months. I now fully expect it to go up 120% every 5 months in perpetuity!!!! GooooodddddaaMmmmmmmmmittttt. Cramer said booooyah and buy sprint. So stfu an buy sprint!!!!

Bought recently for cash here but thinking of getting a HELOC in case I want to pull some out. Is that an issue? Also any recommendations for bankers / brokers appreciated. I know that's been asked before but I am a bit lazy. :) Thanks.

Thanks again guys!!