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BankersOnline.com Forums State-Specific Compliance Issues Georgia Home Equity Line of Credit
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#1124062 - 02/05/09 08:12 PM Home Equity Line of Credit
swthomeala Offline
Junior Member
Joined: Oct 2005
Posts: 39
Georgia
Can a primary dwelling that is in the name of an LLC be eligible for a home equity line?
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#1124390 - 02/06/09 01:47 AM Re: Home Equity Line of Credit swthomeala
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,437
Galveston, TX
How does a LLC live in a house?
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#1124556 - 02/06/09 02:55 PM Re: Home Equity Line of Credit rlcarey
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
There are no rules, per se, regarding who and who cannot have a HELOC. That is based on your bank's policy. Considering you have a business entity with a 1-4 as security...I'd set it up as a commercial LOC...you have much more flexibility that way. (JMHO)
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#1131029 - 02/17/09 07:37 PM Re: Home Equity Line of Credit RR Joker
swthomeala Offline
Junior Member
Joined: Oct 2005
Posts: 39
Georgia
Thanks Joker - that is my thought
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