Legal Question in Real Estate Law in California
Need Cash Desperately
My husband was recently charged with a criminal offense. He said he wants to either refinance or take a second mortgage out on our home to pay for his legal defense. I do NOT want to do this because he did something which caused him to be fired from his job and criminally charged and now he can withdraw money from his deferred comp account to pay for his troubles instead of putting us deeper in debt. My name is on the grant deed and also on the loan documents. Can he go behind my back and either refinance or take a second out on our home with another bank without my knowledge?
2 Answers from Attorneys
Re: Need Cash Desperately
Normally, from a legitmate lender, no loan secured by your house could be obtained, unless your husband forges your sigature.
Re: Need Cash Desperately
No. Your husband would need your signature/consent to refinance the loan, or obtain new financing. He may, however, be able to find a shady loan broker who would look the other way if he produced documents containing a signature purporting to be yours, but which you did not actually sign. A shady loan broker as well as a shady notary would be needed for this to happen.
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