They'll be paid off before you ever show the balances and you'll have all of one HELOC and part of the other to go house hunting with.

I would have a balloon payment for the balance in 5 years.

However, it would take her about 2.5 years to payoff the balance.

If done properly you could use both a form of check & balances.

You will be looking for a local to regional bank that keeps paper in house to service the loan.That small loan balance the mortgage brokers almost lose money trying to fund it.1,402 rent for 38,000 is incredible if it's accurate.

Wealthy is a state of mind, not a number on a balance sheet or bank account.I was wealthy long before I was no longer broke.

If you do get it for that price, use the profit as a balancing factor for the disgusting conditions.And also, use oil based Kilz throughout as your primer.

But then when I asked what she owed she pulled out her mortgage statement and tells me that it states her primary balance is $37k with a deferred balance of $57k.

And make sure you know what the real balance is.  

Just take 80% of the value of your home then subtract your mortgage balance.