Do you have crappy credit or something? 

Need a creditor attorney ASAP, lenders are generally first for proceeds, but they absolutely will approve a plan you don't love.

@Brandon MorganTo buy your second property sooner, consider conventional loans with a 5-20% down payment, house hacking with an ADU, Home Equity Line of Credit, or cash-out refinance.

The debtor and creditor would each hire an appraiser to appraise current value, and of the values vary greatly the court may have another appraisal done.  

Or she stops paying either on purpose or by accident and doesn't tell you and that wrecks your credit... Or

@Natasha Rooney rates will also be different depending on if you have Credit or not.

If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

The bank or lender holding the Heloc can and will close your line of credit or cut it in half with zero notice.

A business line of credit or personal loan offers flexibility, while a VA loan could be useful if you're eligible, though it’s for primary residences.

I will rent to someone with no credit or no rental history.