If my husband is trying to get a 2nd mortgage loan without my consent, is this allowed?
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If my husband is trying to get a 2nd mortgage loan without my consent, is this allowed?
My husband is trying to get a 2nd mortgage loan so he can purchase a house so his parents can live in it because they are foreclosing on their house and don’t qualify. I do not agree with this so would I be required to sign the papers in order for the loan to go through? Will I be liable if we were to divorce?
Asked on January 6, 2012 under Family Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Well first of all, any lending institution that does not double check and ask you to co sign is something to be suspect of. If he does obtain a second mortgage and it is filed against the property, although technically you are not a party to that contract and not liable for it, in reality it is going to effect you is all sorts of ways. If you were to go through a divorce that mortgage amount would be listed on his side of the liabilities and not yours. Sign nothing. Good luck.
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