How do you give part of your home equity to someone else?
October 4th, 2009 | by admin |rainfingers asked:
A relative with poor credit wants to give me a portion of her home equity, so that I can use my good credit to get a loan in my name against that equity. Is that possible? How do you do it?
A relative with poor credit wants to give me a portion of her home equity, so that I can use my good credit to get a loan in my name against that equity. Is that possible? How do you do it?
No Responses to “How do you give part of your home equity to someone else?”
By Real Estate Guy on Oct 5, 2009 | Reply
The loan wouldnt do it.
By mcmdcak on Oct 7, 2009 | Reply
For you just remember the bank wont loan to actually get the cosigner on 2nd mortgagehome equity they would have to accomplish what you want is be able to actually get the house which im sure the equity loan.