realchineseprincess asked:
if husband and wife own the house together, can one of them(without the other knows) borrow $ from bank to get equaty or seond mortgage on that house? what happens if the second mortgage couldn’t be meet and be forceclosure? Will the other perosn resposible for the laon he/she even not knowing? the house is around $800,000. first mortgage is 200,000. second is 400,000
Justin
if husband and wife own the house together, can one of them(without the other knows) borrow $ from bank to get equaty or seond mortgage on that house? what happens if the second mortgage couldn’t be meet and be forceclosure? Will the other perosn resposible for the laon he/she even not knowing? the house is around $800,000. first mortgage is 200,000. second is 400,000
Justin
Monica
I believe it depends on the state and their loan laws. In Minnesota, one cannot get a loan of any kind without lying or spouse’s sig.
Sounds like a divorce is in the works.
Comment by craig b — May 29, 2010 @ 1:40 pm
Judith
need to get lawyer fast.
Comment by theresa — May 29, 2010 @ 9:33 pm