Life Estate or Trust and Home Equity Line of Credit (HELOC)

[Peter S.]

Can a house that is in a life estate or a trust still obtain a Home Equity Line of Credit? If so, will it affect the credit of the “remainder men” (i.e. those whom the house goes to when the person residing in the house passes)? I have a possible private money lender who wants to fund our flips, but needs to know the answer to this question first. Thanks for the help to any who may know the answer!