Money Merge Account:can't get a HELOC?

I had a conversation on The Money Merge Account with another U First Financial agent today. He was saying it was tough to get some of his clients HELOC's. So I've decide to talk about 2nd trust deeds and Home Equity Lines of Credit today. I have been in the mortgage business for a little over 6 years now and manage a branch of TMG Financial Services Inc. called the Hoskins Van Horn Group. The mortgage industry has changed drastically in the last year. I have seen over half of the programs we had available go away. I have a lot of friends who have had to exit the business, and the industry has seen some major banks and business go away. This has happened for a whole variety of reasons, and maybe I will get in to those on a later blog. Right now I want to talk about what is available for HELOC's in the market place. First off the highest LTV or Loan to value ratio that we have access to right now is 125% however the rates are high, it must be full doc, and you must have a strong property. If you want great rates, HELOC's will go up to 89.99% Loan to value. Credit has to be relatively good with credit scores above 680, but again depending on the loan to value ratio credit scores may be as low as 580. It is important when doing the Money Merge Account that you look at the features of your HELOC to make sure it has all the features required to make the program work. I would recommend for anyone needing a HELOC for the Money Merge Account program to go apply at the bank you bank with, also United First Financial has a preferred company that does HELOC's for them; I would also talk to a broker like myself. Most of the time we can find the deal you are looking for, because we are approved to originate loans for hundreds of companies. We like to find needles in a hay stack. If you can't get a HELOC, remember a personal line of credit, or a business line of credit could also work. I hope this helps please email me if you have any additional questions.