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Updated almost 13 years ago on . Most recent reply

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127
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10
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Matt Liu
  • Jersey City, NJ
10
Votes |
127
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Can your equity partner do a HELOC on his share of your property?

Matt Liu
  • Jersey City, NJ
Posted

Can your equity partner do a HELOC on his share of your property? Say he has a 70% share, and the value of the house goes up to 200k, can he get a HELOC for 140k?
Does it matter if you split profits 50/50 - I assume no because the equity position is what matters right?
Also how does the HELOC lender verify that you have 70% equity?

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