twirlgirl928 asked:


Problem, we recently had our home up for sale, but have since changed our mind. We applied for a small home equity loan through our local bank (17,000)so my husband could buy a car and we could pay off a couple of bills. In the meantime, a larger mortgage co that we also inquired with about this loan told us that they could consolidate all of our debt, and save us $600 every month even if we doubled our payment. So, we went with the larger co, however after going through the whole process with them , they came back and said that since our home was recently on the market, we would have to wait 60 more days to get a loan. (this would be 100% equity LTV) My question is, if we go with the smaller loan from our local bank (who doesn’t give 100% LTV loans), could we in fact get a home equity loan a few months down the road, pay off the 17000 loan and also pay off the rest of our debt? Is there some rule about how long after you receive a home equity loan before applying for another

EMERY