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Updated over 6 years ago,
Help with inherited house
Hello,
A few years ago my father passed away and I inherited the house. I informed the mortgage bank as well as heloc bank and continued making payments. The mortgage now comes under the name "estate of xxxxx". The heloc remained the same.
I now want to renovate the house and want to get heloc. I cannot pull any money from the current heloc because it is my father's. How do I go about getting a new heloc?
I would use this new heloc to pay off the current heloc and mortgage and to renovate the house.
Will anyone even offer me a heloc since the mortgage is under estate of my father and there is still a current heloc for this property?
Thanks