Legal Question in Real Estate Law in California

When I applied for a HELOC, the lender told me that California state law says that I cannot have my adult child apply along with my wife and me, that state law says only spousal income can be considered for a HELOC application. Seems odd to me. All 3 of us are on title.

Can anyone tell me if there is in fact such a law that requires this?


Asked on 5/19/22, 12:49 pm

1 Answer from Attorneys

Timothy McCormick Haapala, Thompson & Abern, LLP

There is if your son does not reside in the property as his principal residence.

Read more
Answered on 5/20/22, 7:32 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in California