EricGo07 said:This scenario happened to me, although the circumstances were different: My sister and I were left as co-owners of my mother's home when she died. Money was needed to fix the place up for sale, but I was not willing to front it, and my sister did not have the money. She ended up taking out a HELOC in her name that paid off the 1st mortgage, and gave her a credit line that she spent fixing up the house. At the time she said her credit was 'not great', and she was unemployed. I had to rescind my interest in the home, as will your friend's husband.You should have found a better lender. Ive arranged for many HELOCS where multiple parties are on title, but only one is a borrower.

Tons of lenders will do this, no problem. Chase, National City, Charter One, Deepgreen, etc.

SUCKISSTAPLES said:EricGo07 said:This scenario happened to me, although the circumstances were different: My sister and I were left as co-owners of my mother's home when she died. Money was needed to fix the place up for sale, but I was not willing to front it, and my sister did not have the money. She ended up taking out a HELOC in her name that paid off the 1st mortgage, and gave her a credit line that she spent fixing up the house. At the time she said her credit was 'not great', and she was unemployed. I had to rescind my interest in the home, as will your friend's husband.You should have found a better lender. Ive arranged for many HELOCS where multiple parties are on title, but only one is a borrower.

Tons of lenders will do this, no problem. Chase, National City, Charter One, Deepgreen, etc.Thanks for the education SiS. This is the sort of information that comes in *real* handy when it is needed, but is damn near impossible to ferret out in real time.

FWIW though, I sent my sister to all the usual suspects that we know and love here on Fwf, including USAA and PenFed. She was rebuffed by all except the local lender she carried her own mortgage with. And this was a couple of years ago, when credit was offered to dogs, so long as they had tags. But then again, I don't know what her exact credit score was, and she is not a reliable historian. It's too bad I signed off the house -- the profits were supposed to be split amongst our poorer siblings, but my sister took advantage of the situation and reneged on her promise.