Can someone with a hamp remodified loan have a line of credit loan for home maintainence?

Yes. However, if any of the loan balance was deferred it will be calculated into the loan to value and traditional guidelines will still apply regarding that as well as credit and payment history. I hope this information helps you and if you have any further questions please feel free to contact me at 888-843-5525Laleh Hanks

It's possible but it will still be determined by credit which includes payment history and any deferred balance from the HAMP. Since most lines are maxed at 80 or 85% Loan to value this may be a problem for you. Get with a local trusted mortgage pro and go over your options.

Yes, as long as you meet the requirements of the lender providing the HELOC. Often credit unions have the best rates and will lend the maximum but check around. Be careful using this type of financing for "maintenance" but it can be handy for larger expenses like repainting, new roof, etc. You'll want to make sure you pay it off with much more than the minimum payment (unless the loan requires a larger payment already). Good luck!

Yes and No.. if you have a HAMP agreement that has deferred principal or forgiven principal, then it might be extremely difficult to find a lender willing to offer a 2nd position loan.. I'm not saying it's impossible, but very difficult.. if however your modification did not include any deferred or forgiven principal, but rather just a change in the interest rate or amortization schedule, then it should be a little easier.. Most of the clients I've dealt with in your position had to refinance to access funds because no one was offering 2nd's.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com