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Fast HELOC loan?

generaltso 402 45 June 24, 2016 at 08:56 PM
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I am working on a real estate transaction with a foreclosure. If the financing falls apart due to repair issues I am considering using a home equity line of credit (HELOC). It would have to be done fairly quickly though, within 3 weeks.

Any tips on this? My local credit union quoted me 10 weeks which seems crazy. Has anyone done a HELOC lately at any of the major banks? If so what was your experience and how fast were you able to close? Thanks

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#2
Thanks to the housing implosion, loans take forever.
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"This whole.. I have XX company so my pee pee is 2" longer talk is hilarious. Who cares what company is cheapest, best, etc. Pick the company and plan you want and keep it to yourself."
#3
Quote from generaltso View Post :
I am working on a real estate transaction with a foreclosure. If the financing falls apart due to repair issues I am considering using a home equity line of credit (HELOC). It would have to be done fairly quickly though, within 3 weeks.

Any tips on this? My local credit union quoted me 10 weeks which seems crazy. Has anyone done a HELOC lately at any of the major banks? If so what was your experience and how fast were you able to close? Thanks
I did PNC Bank HELOC and they closed in 20 days
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#4
How about borrowing from your own 401k, if you have one.
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