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HELOC or Home Equity Loan for home owned w/no mortgage

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So, here's the scoop.  Someone tell me if I'm looking for something that doesn't exist.


Need a low doc/no doc HELOC or Home Equity Loan for DW, her credit score is around 640, BK 2+ years ago.


We've owned the house about 6 months.  Appraised value is around $150K, we have no mortgage, but paid $50K for the house, as at the time it was a fixer upper.  Now it's fixed up.


Looking to pull maybe 20-50K in equity out of it.....I'm the one with the paycheck but her credit is better than mine.


Is there a prayer here?




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While I would think a bank would be happy to loan on a home without a mortgage, the part I wonder about putting the loan in her name when you have the income. Is the house in both names on the deed? I know when DW and myself did our HELOC the CU wanted both names on the loan since both names are on the deed.

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