Creative finance I think

[Robert Wood]

Can I buy a house for a buddy then in 45 days after being in his name he gets a heloc on the property and pays me back with interest 

[Chris Seveney]

@Robert Wood

So your buddy buys a house and you are the lender - then in 45 days he gets a heloc to pay you back. Why doesn’t he just get the loan to start?

You could do that but there is no guarantee he will get a heloc to pay you back. Also if it’s for his primary residence you have to make sure you comply to Dodd frank and consumer protection laws on loan terms for a house.

You would also want to go through a title company to make sure your interests are protected.

Then you will want to have a servicing company service your loan.

A lot of steps here that need to be done if you want your interest protected