[judon7699]

Hello,
My mother-in-law wants us to take out a home equity loan on her home, because she feels she can't give us anything else. Can we legally do this in Maine without any problems. She is willing to sign the loan with us and we have the financial ability to pay. Your advice would be helpful.

Thank you
judon7699

[Fr_Chuck]

Why do you need the money, how much is it, if she borrows money on her home it is her money and debt, if she gives it to you, there may be gift taxes due on it

[judon7699]

What if we just use her property as collateral on a home equity but she also signs the note

[judon7699]

What if we just use her property as collateral on a home equity but she also signs the note

[judon7699]

What if we just use her property as collateral on a home equity but she also signs the note