So, I have a house that is paid off. The value of this specific home is around 210k. I may need access to 100k (new business), would I be able to obtain a home equity loan for that value on my house? If this is a possibility, what is my best option to raise that type of capital? I do not want to sell the property, so I am just looking to take a new mortgage or loan for 50% of its value - and to be honest, I do not want to be grilled on what the cash is to be used for. I have no problem putting the value of the home up, but would like a pain free process, if that is possible - lol.
Thanks in advance for the help.
