Posted on: 28th Aug, 2007 04:15 pm
My Mom has Demetia. The house is paid in full and we have the deed. My Sister has a POA as well. We need to get an equity line to pay for my Mother's care.
Sorry to hear about your mother's condition Neesand.
If your sister holds a durable power of attorney then she can take a mortgage in your mother's behalf.
Miller
If your sister holds a durable power of attorney then she can take a mortgage in your mother's behalf.
Miller
Hi Neesand,
The lender may ask your mom to bear the HELOC loan in her name as she is the principal owner of the house. But as your sister has the power of attorney, I think she will be able to obtain the loan in her name.
The lender may ask your mom to bear the HELOC loan in her name as she is the principal owner of the house. But as your sister has the power of attorney, I think she will be able to obtain the loan in her name.
"My Mom has Demetia. The house is paid in full and we have the deed. My Sister has a POA as well. We need to get an equity line to pay for my Mother's care."
You should consult the lender first to know if he will accept the POA you have to sign on documents on your mom's behalf and if any other legal documents would be necessary.
You should consult the lender first to know if he will accept the POA you have to sign on documents on your mom's behalf and if any other legal documents would be necessary.
if your mom has dementia how can she get a mortgage? this makes no sense
what your sister should do if she wants to get a heloc and the property is paid off is to sighn the house over to herself with a quitclaim deed and then get a home equity loan on the home.
what your sister should do if she wants to get a heloc and the property is paid off is to sighn the house over to herself with a quitclaim deed and then get a home equity loan on the home.
