*Loan,banking and credit>>>credit line

Can a wife take a Home Equilty Line of Credit w/o the signature of her husband. Both names are on the title?

My nephew was out of the country at the time his wife applied for a HELOC. Both of their names are on the title. She pocketed the entire $10K and sent the $20k to pay for a condominium she bought in her country, and my nephew had no knowledge of the transaction until he came back home from his trip. Shouldn't the title company require the non-borrowing spouse sign a WARRANTY DEED for the husband to sign at closing to show his consent? Can any spouse do this without the knowledge of the other to draw funds from the home they both own?

Thanks!

i am not totally positive but I am pretty sure that since your husbands name is on the house, anything that has to do with that property he has to sign as well. if he quick claims the house over to you, then you can sign on your own, provided you earn enough money to pay it.good luck

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No that is not allowed; at least not in the state of Washington where I am. I am a loan officer and the spouse has to sign saying that it is ok. Even if they are not on the HELOC they have to agree to have another loan on the home
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The only way this can happen is if the husband filled out a power of attorney giving the wife the right to do this.

The husband should contact an attorney for assistance.
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