From: hefferMiller@hotmail.com
Newsgroups: misc.invest.real-estate
Subject: Re: Home equity line of credit for flipping properties
Date: 22 Nov 2006 06:07:22 -0800
   posting-account=P_lAqwwAAAAvAcHiSm6irePAmQQWgqVW


Is this a joke?   Is anyone really thinking of flipping houses these
days?

Tell your young friend that his first lobotomy didn't take, and he
needs a second.

John


MD wrote:
> Young investor wants me to mentor him on flipping.  He proposes
> obtaining a 100% LTV home equity line of credit on his primary
> residence to finance his ventures.
>
> He desires interest only payments.
>
> His credit score is high 700s with stable job history.
>
> Are these loans actively being made?  If so, what type of interest rate
> sould he expect to pay?  
> 
> Thanks,
> 
> MD