My husband and I live in California. We own a home together. Joint Tenancy.
Question #1: Can my husband get a second mortgage on our house with out me signing for the mortgage and without taking my name off the title?
Question #2: Ca[itol One mortgage told him that all I need to do is to sign a form which states that he is fully responsible for paying the loan. However, he is only responsible if he is alive. According to them. If he should die or we get divorced, then the balance of the second mortgage would come out of the equity of our house, even though I never signed for the loan and my name is still on title. Has anyone ever heard of such a loan????
My husband has raked up over $57K in individual credit and now wants it gone!
Hope you can give me an answer!
Question #1: Can my husband get a second mortgage on our house with out me signing for the mortgage and without taking my name off the title?
Question #2: Ca[itol One mortgage told him that all I need to do is to sign a form which states that he is fully responsible for paying the loan. However, he is only responsible if he is alive. According to them. If he should die or we get divorced, then the balance of the second mortgage would come out of the equity of our house, even though I never signed for the loan and my name is still on title. Has anyone ever heard of such a loan????
My husband has raked up over $57K in individual credit and now wants it gone!
Hope you can give me an answer!
