Legal Question in Real Estate Law in New Jersey

Re: Home Equity Loan

Probably not since the bank will perform a title search and see that title is in both names. You can check to see if they will allow a single signature, but do not anticipate it will allow it. I suggest you get your marital siuation resolved first. Since you wife has deserted you, you are eligible to file for divorce, and can serve her by advertising if you do not know where she is located. As part of the marital issues, you can ask the Court to fix your rights in the house. I suggest getting a good matrimonial attorney also familiar with real estate to assist you.

Re: Home Equity Loan

The simple answer is probably not. Any mortgage company or bank will want the signatures of both owners whose names are on the deed. In order to get full legal title, you have to file for a divorce. We can help you. Please call for an appointment. Mention LawGuru and the first half hour is free.

Re: Home Equity Loan

There is nothing illegal in applying for a home equity loan provided that you disclose to the lender your true equity interest. Considering the fact that you are proposing to borrow only a small fraction of your equity, a lender is likely to be receptive to your application.

Lenders have genuine, practical problems in foreclosure on the half-interest of one spouse in a marital residence. Therefore, you would have more difficulty in getting a line-of-credit loan for larger amounts.

The fact that your missing wife has a one-half interest in the house (and the equity)will continue to haunt you no matter what a lender might do with this loan. To get that resolved, you might want to file for divorce. Among other things, divorce would work a division of the property. If your spouse cannot be found, the adjustment to the title could be done by court order. There are some complications so you should look for a lawyer who is skilled and experienced in divorce law. Considering your location and other factors, the best I know is Vincent Robertson, Esq. of Moorestown, NJ: 856-235-4277. He is a New Jersey Certified Matrimonial Attorney and a gentleman I think you would like.