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

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Icon Mini Profile goldenangel1952





Joined: 03 Jan 2008

Posts: 6

3.36 Dollars($)
Post Posted: Mon Jan 26, 2009 5:35 pm    Post subject: How did my in-laws get a mortgage,without my husband?
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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?
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10030
Location: Alaska
919.49 Dollars($)
Post Posted: Mon Jan 26, 2009 8:45 pm    Post subject:
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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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