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mortgage vs deed

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Icon Mini Profile rbtlg





Joined: 04 Aug 2010

Posts: 3

1.66 Dollars($)
Post Posted: Wed Aug 04, 2010 4:59 pm    Post subject: mortgage vs deed
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My husband & I both go-own our home but the mortgage is in his name. I live in AL. can he refinance/borrow money on our home without my knowledge? If yes, is it legal?
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10020
Location: Alaska
917.78 Dollars($)
Post Posted: Wed Aug 04, 2010 8:12 pm    Post subject:
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Hi rbtlg!

Welcome to forums!

If your husband has the required credit and income, he would be able to take out a mortgage in his name using the property as a collateral. However, as you're one of the owners of the property, he should have informed you about the mortgage.

Feel free to ask if you've further queries.

Sussane
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