This is a bit complicated, but I’ll try to keep it as brief as possible.In the ’70s my in-laws bought a house in a good area of San Francisco; it was paid-off in the ’90s. My father-in-law died in 2004 and my wife died in 2016. A couple of years later my mother-in-law put the house and its contents into a living trust with a pour-over will naming me her sole beneficiary and follow-on trustee.A few months ago she had to go into a nursing home; full-blown dementia/Alzheimer’s.The house was built in the ’20s. Very nice, with lots of custom features, but it needs wiring and plumbing work as well as lots of cosmetic stuff (oak floors refinished, some plasterwork, everything repainted, yard redone, etc.) I can do most of the cosmetic stuff, but the plumbing and wiring are beyond me, and they’ll cost $40-50,000 to have done. That’s capital I don’t have.I’ve banked with Wells Fargo for like 25 years and I went in today to ask about a home equity loan, but unfortunately they stopped offering them a few years ago. My credit score is low, and I’m retired with essentially no income.I need a short-term home equity loan that I can pay-off in 3-4 months when the house sells (which it will; houses in this neighborhood sell within a week or two, and get bid well over the asking price). The selling price should be $2.9-3 million, once the necessary work is done.I know nothing about getting a home equity loan and even less about selling a house that is part of a trust.Any advice would be greatly appreciated!
