You should consult an attorney. However you can discuss with your father's bank or mortgage holder assuming the debt. I'm assuming he is still alive. If you qualify for the mortgage, they may consider putting it in both your name and your father's name. If your father has already passed then the debt which is secured by the house would pass to the estate. However, at that point you could get a mortgage to pay off the estate for the amount of the equity loan. Do consult an estate attorney and also your father's lender.