Looking for Rental Property HELOC

[Joseph Rodney]

My situation Rental Property in Brooklyn NY, mortgage 86000, I have tried to refinance but only possible with a cash out, banks consider this loan to be too small, offered approved 157000, 30 years Mortgage (4.75%). After calculating the repayment which would be 90% of the loan amount in 30 years 302000. I backed out just before closing. My mortgage matures in 2024

Reason for refinancing is to get the Mortgage into my name, I do pay the mortgage but it is in a family members name.

Does anyone have some sound advise for me on how to solve this problem? I am thinking of a Line of Credit. BUT is there a better way. The bank wont let me assume the mortgage.

Thank you in Advance

Joseph R.