https://ficoforums.myfico.com/t5/Mortgage-Loans/Home-Equity-Loan/m-p/169530#M9042 <DIV></DIV><DIV><DIV class="postcolor">Hello Everyone,<BR /><BR />My Mother-In-Law wants to take out a home equity loan for $200000. Her house appraised for $600000. She owes nothing on the house. The only question I have is that she is 80 years old and my sister in law is co-signing. Should there be a problem with the age in getting the loan?<!-- IBF.ATTACHMENT_2955724 --></DIV><BR /></DIV> Mon, 03 Mar 2008 18:18:34 GMT Anonymous 2008-03-03T18:18:34Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Home-Equity-Loan/m-p/169530#M9042 <DIV></DIV><DIV><DIV class="postcolor">Hello Everyone,<BR /><BR />My Mother-In-Law wants to take out a home equity loan for $200000. Her house appraised for $600000. She owes nothing on the house. The only question I have is that she is 80 years old and my sister in law is co-signing. Should there be a problem with the age in getting the loan?<!-- IBF.ATTACHMENT_2955724 --></DIV><BR /></DIV> Mon, 03 Mar 2008 18:18:34 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Home-Equity-Loan/m-p/169530#M9042 Anonymous 2008-03-03T18:18:34Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Home-Equity-Loan/m-p/189114#M10322 <DIV>A lender cannot discriminate based on someone's age - it's in the Equal Credit Opportunity Act.&nbsp; As long as your MIL &amp; SIL qualify for the mortgage they should be fine.&nbsp; If your SIL does not live in the home, she would be qualifying as a non-occupant co-borrower, which usually are not eligible for home equity lines of credit or standard home equity loans.&nbsp; If that is the case, your MIL &amp; SIL could still qualify for a normal 1st mortgage refinance.</DIV> Mon, 24 Mar 2008 23:55:07 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Home-Equity-Loan/m-p/189114#M10322 ShanetheMortgageMan 2008-03-24T23:55:07Z