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We had planned to use HE loan to pay for our adoption, but in this crummy market, we got turned down. We have at least 15-20k in equity and only wanted to borrow about 8. They are getting much more strict with how much debt they will allow against a home. We ended up borrowing against dh's 401k.
So, my advice: don't count on this unless you have an immense amount of equity or absolutely no other debt.
Good luck!
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Marci
03/21/06 Home study officially approved and we are waiting!
07/20/06 Cameron born
1/23/08 Home study approved for #2!!!!!
3/10/08 Spencer born
3/14/08 TPR signed!!!!
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