Posted on: 10th Jul, 2014 05:00 pm
Hello
I live in a home that my moms owns. It is free and clear and I don't pay rent. Can a home equity loan be taken out on the home?
Thanks
Lori
I live in a home that my moms owns. It is free and clear and I don't pay rent. Can a home equity loan be taken out on the home?
Thanks
Lori
Hi Lori,
Yes, your mother or who ever is legally on title to the property could take a HELOC out on the property. What state is the property located in?
Yes, your mother or who ever is legally on title to the property could take a HELOC out on the property. What state is the property located in?