PostHeaderIcon Home equity loan for a rental property located in Morristown, New Jersey. Purpose: debt consolidation?


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I am a landed immigrant in Canada, living in Edmonton. I have tried to get a home equity loan on my property located in Morristown, New Jersey. I have approached several major US-based lenders. I have been refused the loan because I am not a US permanent resident. I need your help to locate a financial institution (American or foreign) willing to work with me. I have an acceptable US credit score and my job in Canada is steady and well paid (I work for the Government of the province of Alberta). I want to use the funds to consolidate my debt. Thank you for your assistance!

2 Responses to “Home equity loan for a rental property located in Morristown, New Jersey. Purpose: debt consolidation?”

  • My 2 Cents says:

    I think you are going to run into this problem from every lender. Most of the time you have to be a US Legal Resident or have a green card, etc. to get loans.

  • Frank - Wachovia Banker says:

    wongmartines,

    I may have something for you. I cannot go into second position behind any other mortgage, but the loan I have could make sense. Even if you have tried Wachovia, still contact me because the loan I’m thinking of is fairly new to the bank and many of the bankers aren’t familiar with it yet. I recently did a refinance for a non-resident alien with this particular loan, so I know that it is possible.

    As always, you can contact me at the branch.

    813-681-2866

    Good Luck!

    Frank

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