A Timely Solution Before The Storm

A member and his wife applied for a Home Equity Line of Credit to replace their roof and complete additional home repairs. Unfortunately, the loan request was denied due to insufficient income in relation to their debts. While discussing the loan decision, the members suggested adding their son and daughter to the application. This created a challenge due to the fact that the home being used as collateral was titled in the member’s name only. An exception was granted to add their son and daughter to the application. As a result, the loan was approved for $20,000, and the members were able to replace their roof before the start of hurricane season.