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    debra637's Avatar
    debra637 Posts: 1, Reputation: 1
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    #1

    Jul 18, 2008, 02:11 PM
    1/3 home owner family estate. Can I borrow with home as colatural?
    My brothers and I each own 1/3 of estate property that we want to sale in the near future. Is it possible I could get a loan based on my 1/3 of the estate? With consent of brothers, and how would they be effected?
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jul 18, 2008, 03:20 PM
    Welcome to AMHD. The estate property stands good for the debts of all owners. It is unlikely that you could get a mortgage using this property as collateral without the other owners signing onto it as well; that would serve as their consent. The brothers may have to sign a promissory note as well. Are your brothers married?
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