Need To Be On Deed To Take HELOC?

Comments(6)

• 
  edmeyer5th August, 2004

  If an owner is willing to allow this why not let the owner take out the HELOC and lend you the money?

• 
  Parkhil25th August, 2004

  owner has terrible credit.

• 
  JeffAdams5th August, 2004

  You will need to be on the loan unless you go to a place like Beneficial, Norwest, Avco where they mainly care more about the LTV and overlook credit that is not the best.
  
  Your other option is to have the homeowner add you on title and then try to get a loan.
  
  
  Best Riches,
  Jeff Adam
  [addsig]

• 
  Parkhil26th August, 2004

  I do not mind being on the Loan. Can the loan be in my name and they just sign off permission? If not how do I go about being added to the Deed? To I need a title report to do this.

• 
  edmeyer6th August, 2004

  What about co-signing for the owner's HELOC? You are getting the money anyway.

• 
  JeffAdams6th August, 2004

  Parkhil:
  You need to be on the deed. Go to your local Hallmark Stationary Store and they have a legal forms section. Get a grant deed and you can prepare it or have an escrow company fill it out is what I would recommend. This is your only option.
  
  
  Best Riches,
  Jeff Adam
  [addsig]