Legal Question in Credit and Debt Law in New Jersey

Repayment of Home Equity Loans

Can I create a rider for a Home

Equity Loan that divides repayment responsibility unequally between husband and wife (i.e., husband is 2/3 responsible; wife is 1/3 responsible). What language would be suitable?


Asked on 3/01/07, 5:10 pm

2 Answers from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: Repayment of Home Equity Loans

I'm not sure why you would want to do this. If you get divorced, I think you might have a hard time enforcing this.

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Answered on 3/03/07, 9:08 pm

Re: Repayment of Home Equity Loans

You and your husband can enter into any agreement between the two of you that you wish, however, unless the Lender agrees to this Rider, IN WRITING, you will both remain fully responsible for the repayment fo the monies borrowed.

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Answered on 3/01/07, 5:18 pm


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