Opening HELOC on Parent's LA Home, My Name Not on Title

[Account Closed]

Hey BP, making my first post here!

I'm looking to open a HELOC on my parents home here in Los Angeles, and use the money to fund rehabs to make their property rent ready. Currently my parent's home is my primary residence. I applied for a HELOC through Third Federal but was declined as although my credit score (>700) and income are great, my dad has 0 income as he's retired and a very low credit score (~500).

I would look into adding my name to our house's title, but I'm wondering if that will trigger a re-appraisal from LA city. My dad has built several unpermitted additions which will definitely incur us significant fines if re-appraised. Any recommendations on HELOC lenders which would allow me to apply for a HELOC despite not being on title? Or maybe a lender with which I can include my dad as he has title, but primarily rely on my credit score+income? Maybe some other form of financing altogether?

[Wayne Brooks]

YOU can not mortgage the property because you are not an owner, period.  You dad could perhaps get a loan, with you as a co-signer.