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Updated over 7 years ago on . Most recent reply

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Soheb Momin
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Help with inherited house

Soheb Momin
Posted

Hello, 

A few years ago my father passed away and I inherited the house. I informed the mortgage bank as well as heloc bank and continued making payments. The mortgage now comes under the name "estate of xxxxx". The heloc remained the same.

I now want to renovate the house and want to get heloc. I cannot pull any money from the current heloc because it is my father's. How do I go about getting a new heloc? 

I would use this new heloc to pay off the current heloc and mortgage and to renovate the house.

Will anyone even offer me a heloc since the mortgage is under estate of my father and there is still a current heloc for this property?

Thanks

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