can i get a home equity loan if my name is on the title?
Written By: admin on June 8, 2009
One Comment
My husband and i bought a house one year ago. I was on maternity leave so they could not place me on the loan, but i am on the title. my husband will be out of the country for a long time, i wanted to know is there any way for me to get a home equity loan just on my name?
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Tags: Home Equity, home equity loan, long time, maternityTags: home equity loan, long time, maternity
First, there is no reason you couldn't have been on the loan the first time. Your husband would have been the primary wage-earner, but you could still have been on there. Not sure what happened there.
As for now, the only way I know of that you could do this is by using a power of attorney for your husband. Most lenders but, will only accept this if he is out of the country for military purposes.
Of course, sometimes, if you apply for a Home Equity Line of Credit through your current mortgage company, you may not even need to sign papers. You just apply online or something and they open it up for you.