Is Is it possible to obtain a Heloc without any income?
I have a relative that has a lump sum of money but no proof of income. He has a friend in the construction industry, and with his friend’s assistance, he plans on building a 3br, 3 bath, house for around 100k. After building the house he wants to take out a Heloc on the property. Is it possible for him to do a Heloc on the property, although he does not have any proof of income.