I believe that in a Home on a Hire Purchase, the title to the property (as recorded at the county seat) is retained in the seller's name and the buyer has an equitable interest commensurate with their investment in the property. A HELOC will only be granted to the titled owner of the property.... more
Maybe.... If you use the right lender, Talk to a broker first that actually has lenders that can first get a 580 score approved and closed. I would recommend the lenders network, if any company can get you a loan they can. I have had clients with under a 580 score get approved and we closed within 30 days... Brilliant real estate minds with a ton of lending contacts.