Norman, OK · Member since 2021 · 22 posts · 1 vote
Title says it all. But in my specific situation, I’m looking to buy my uncles house subject to his existing financing. I’m just wondering if I can do a subject to in my name, or will it have to be in his?
Norman, OK · Member since 2021 · 22 posts · 1 vote
5y
@Kerry Baird thank you for answering! What if the property was split 50/50 with another owner. Would you only be allowed to get a HELOC for half of the equity?
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
5y
@Michael Cote, I’d expect each of you may have to sign, ensuring you are each responsible for the debt repayment. Ask your local credit unions, after you pull your own FICO. Ask, “With a score of 720, what rate and terms do you offer on home equity lines?” Explain the ownership with other party, and let them answer.