BOUTYM
04-28-2007, 11:26 AM
My wife has a house that's paid for and worth about $600,000. We are wanting to rent the property, but need to so some minor renovations and have been looking for a lender that will give equity lines on non-owner occupied property in the New York area. This has turned into something similar to the quest for the Holy Grail and I'm having a hard time understanding why.
We have been working with M&T Bank because they are the only one we found locally that will do it, but dealing with them has been a nightmare because of their less than efficient method of doing loans. We are looking for another lender that is will do these types of loans and is responsive (read that as they actually want our business).
We have been working with M&T Bank because they are the only one we found locally that will do it, but dealing with them has been a nightmare because of their less than efficient method of doing loans. We are looking for another lender that is will do these types of loans and is responsive (read that as they actually want our business).