Mortgage Brokers & Lenders
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago,
Taking Equity out of a property with a unique situation
Hello, allow me to explain. My mother owns a beautiful home in San Diego, CA free and clear. She purchased it in 1998 for $65k and the house is now worth just about 850k. But there is a lien on the house and it turns out some other financial situations that need to be taken care of. We were wondering about how to tap into the equity of the house to pay off her debt as well as purchase another property. Oh, one other thing is her credit score is low. My question is: how can we leverage the equity while using the house as collateral so that we don't have to liquidate the asset? Thanks for your time & input!