QUESTION
If I am married and my wife is getting a home loan without my consent or signature, am I liable for the loan?
Asked on Jan 19th, 2013 on Divorce - California
More details to this question:
If I am liable is there anything I can do to protect myself from her bad decision making? We are going through counseling and may potentially end in divorce but in the mean time I want to protect myself from her bad decisions. Do I have options and what are they? We live and were married in California.
2 ANSWERS
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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Your wife probably will not be able to get the loan without you signing off of ownership of the property.
Answered on Jan 23rd, 2013 at 12:32 AM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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If she gets the loan in her name based on her credit alone you should not be responsible. Keep going to counseling This loan could cause problems. After all any money she earns during the marriage is community so any mortgage payments she makes give the community a slight interest in the house what if she loses her job it will affect the community's credit and maybe you'll lend her money.
Answered on Jan 23rd, 2013 at 12:32 AM