Help?

Home equity loans are a second mortgage. Because they stand behind the first mortgage loan in case of default, lenders in this arena tend to be more cautious. From the little information you provided, it sounds like your mother deeded the life estate to you. This would mean that you own it, but upon your death, ownership reverts back to her. It doesn't really matter that the first mortgage is in her name, the ownership is yours. Although I don't see a particular reason that a bank would use the life estate as a reason to deny you the loan, every lender has different rules they apply to their lending process. I would encourage you to seek out local community banks or credit unions and see what they are willing to do. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.