Forum Thread

Do I need a lawyer for a HELOC?

blarpu 107 103 July 18, 2016 at 01:53 PM

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Hi slickdealers, I'm relatively new to the home ownership game (but have a lot of equity in the home) and I'm planning on opening a HELOC for future repairs/upgrades to the property.

Do people typically pay for a lawyer to manage the HELOC process or do you really only need one for the initial purchase?

When I searched the web I'm seeing a ton of people say you don't need one for a refinance but I'm not seeing many answers on a HELOC...



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Customarily, like a refinances, a 2nd mortgage (whether Loan or Line) would not have a borrower attorney involved.
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Old Hippy & Mortgage Pro
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No lawyer needed. Apply at whatever bank you choose and wait. There is a closing similar to your initial mortgage but usually done at your home with a notary.
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E finita la cuccagna

Liberals want you to think like them, Conservatives just want you to think!
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Original Poster
Thanks all!
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