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Old 09-28-2005, 12:47 PM
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Default Need Info on Commercial Equity Loan or Mortgage

I own an eight family house in NYC. It is worth about a million. There
is a first mortgage balance of $80,000. I could refinance a take out a
considerable amount of money. However I have no immediate need for all
that money. I really need a home equity type of loan where by I could
use the money when needed. I have not been able to find a bank that has
such loans on 8 family income property that I do not live in. Can
anyone offer any suggestions.




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