tl;dr
>mother and I lose newly bought home to "Superstorm sandy"
>grandparents also lose paid off home
>mother and I rent while grandparents demolish and finance a new built home
>mom and I move in around 2018 so she can save money to either buy new home or take over grandparents

I recently found out that my grandparents ran up a HELOC and I guess they have been using their pension to pay it down? Alongside paying down the house too. Would that prevent us from buying the house from them? Since they have a loan or whatever you would call it?

My friend is in similar situation but lives only with his grandparents and they used a HELOC or something similar to spend a couple years in a place Moldova or Bulgaria. They are never home because they travel the U.S. and Canada all the time. My grandparents haven't done anything like that, they have a trailer they take to delaware but thats it. So i don't get the point of getting one

Pic is of my neighnors Vspec-II R34 on LMGT wheels. I'm a Z guy these cars don't do it for me

>>60762451 (OP)
>Would that prevent us from buying the house from them? Since they have a loan or whatever you would call it?

no. afaik you can buy a house with an outstanding HELOC just the same as you can buy a house with an outstanding mortgage. the only issue will be if the seller e.g., owes $100k HELOC and $300k mortgage (total debt of $400k) and the house is only worth $300k.

>My friend is in similar situation but lives only with his grandparents and they used a HELOC or something similar to spend a couple years in a place Moldova or Bulgaria. They are never home because they travel the U.S. and Canada all the time
it's similar to running up massive amounts of credit card debt to go travel the world like a retard. HELOCs are lower interest rates but they are also collateralized by the house, so the bank could just as soon take possession of their home. kek.

>the only issue will be if the seller e.g., owes $100k HELOC and $300k mortgage (total debt of $400k)
That makes sense

Z is a beautiful car but its soo low to the ground and there was not enough inventory out there when I was considering buying one in 2023

the house always wins
>don't do it anon