Home Equity Loan on Investment Property

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Posted by NJ on January 03, 2002 at 13:07:52:

I own a 2 family house with a market value of $375K or so and a remaining mortgage of $158K. The house is fully rented out. My question is as follows:

Can I get a home equity loan on this even though I do not live in it? If so, are the terms more restrictive than if it was owner occupied?

Are there other alternatives I could look into in order to free up some of the equity in order to purchase another investment property?

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