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If I am on the deed for my home..........

Yep, how'd ya guess....I'm in debt. My spouse is "iffy" about taking another Home Equity loan to "help me". I think this time (well, actually every time) he intends to punish me. As if all the sleepless nights aren't enough.

The problem is that I'm on Social Security Disability and I have a small amount of money left on another Home Equity that we took out about 5 years ago. This one is going to be the same amount as the last one because I accrue the same amount of debt for our household expenses. He won't give me money freely. I have to beg for it.

So the question is, can I take a home equity out on my own or do I have to have his signature (because he's on the deed and the major breadwinner)?

Help!?
Thanks!
Morus44

Answer Question
 
Anonymous

Asked by Anonymous at 9:48 AM on Jan. 11, 2009 in Money & Work

Answers (6)
  • If both you and he are listed as mortgagees, then yes, you both have to sign.
    Anonymous

    Answer by Anonymous at 9:49 AM on Jan. 11, 2009

  • If youre both on the deed you both need to sign
    gemgem

    Answer by gemgem at 10:09 AM on Jan. 11, 2009

  • It sound to me, that you have other issues to deal with, then a home equity loan. Sounds like you have a DH problem. So he helped make the bills your talking about, but won't help pay for them? Need mor info to really help. But the Anonmous is right . If you both are on the deed you need him to sign it.

    louise2

    Answer by louise2 at 10:14 AM on Jan. 11, 2009

  • Unfortunately, you both have to sign.  I did find some excellent credit ideas at www.squidoo.com/getmecredit.  You might see if anything interests you there.

    Anonymous

    Answer by Anonymous at 11:34 AM on Jan. 11, 2009

  • sell the house and get a new man lol
    massagegiftmom

    Answer by massagegiftmom at 1:31 PM on Jan. 11, 2009

  • It may be possible for you to apply for and be approved for the home equity line of credit by yourself, however, at the closing your husband will have to sign what is called the note. This acknowledges that there is a lien against the property. This does not make him liable for repayment of the home equity. He is acknowledging that should you default on the mortgage they have first rights to any equity in the property.
    JuneRichardson

    Answer by JuneRichardson at 11:04 PM on Jan. 11, 2009

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