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How did my in-laws get a mortgage,without my husband?

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goldenangel1952 Joined: 03 Jan 2008 Posts: 6 3.36 Dollars($)	Posted: Mon Jan 26, 2009 5:35 pm    Post subject: How did my in-laws get a mortgage,without my husband? Like 0 Dislike 0 My husband had no knowledge of the loan. He is on the deed.The new deed was never recorded, only the new mortgage. It was to be a buyout not a refinancing. Is this mortgage illegal? It happened in Brooklyn,NY. No one will tell us how or what kind of loan this was for $350,000. How did they get it?
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Mon Jan 26, 2009 8:45 pm    Post subject: Like 0 Dislike 0 Hi goldenangel! Welcome to forums! Is your husband the sole owner of the property? If yes, then your in-laws cannot take a loan on that property without his permission or signatures. If your in-laws are also the owner of the property along with your husband, then they may take a loan in their name using the property as a collateral. But they should have informed your husband regarding the loan. Feel free to ask if you have further queries. Sussane

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