helocs on non-owner occupied single family homes

Jill & I used to buy all our houses with cash, & then take helco's on these income/flip properties. It was great because the banks would just drive by & give 70% to 80% of appraised value. Now it's a different story, even with both of us having 800 plus credit scores, we can not find any banks that still do it. We have found ones that will give regular mortgages, but of course there are closing costs, where as the heloc'c were free. I would love for someone to find a bank that still does it also...I have 3 houses that are free & clear, & being able to pull out 70% or 80% of value would give us enough to buy 3 more.

I have found the same the same thing, Banks will do a refi, but will not do a credit line or heloc,s unless I live in the house.

Randy

Thanks, for the comments. I have a few mortgage brokers looking into this and I'll continue as well. If I find a way I'll let you know.

Thanks!