Legal Question in Real Estate Law in New Jersey

Re: Home Equity Loan

Hi,

You cannot get a home equity home loan without her signature. Even if she wasn't on the mortgage or deed, New Jersey is an equitable distribution state, so both you have an equitable interest in the home.

Re: Home Equity Loan

In theory you have equity in the property and can use that to secure a loan. The problem is that it will probably be impossible to find a lender that understands that subtlety and is willing to take the risk. For so long as you wife has an interest in the property, a secured lender cannot completely foreclose on the property in the event of a default. That would leave them as the owner of an interest in the property that is not marketable without your wife's cooperation. They would be in a worse positon than you are now.

I recommend that you get a consultation with a lawyer in your area who is certified in matrimonial law.

Re: Home Equity Loan

You can not get a loan without her signature. Your finances are very much tied up by this.

However, I think you also have a lot of other problems caused by this situation.

You absolutely positively need to take action, to get some certainty into your family situation. You need a lawyer.

You may or may not want child support from their mother, you may or may not want a divorce, but you really need to make your children's lives more secure and certain by getting a Court Order on custody.

If there is no Court Order in place, then it is possible for their mother to change her mind today, and come pick them up and take them to her house to live NOW. You will be unable to stop her from doing this; you would end up going to Court as soon as you can and try to convince a Judge that the kids are better off with you.

You need to make an appointment and consult with an attorney who spends a good deal of his/her time practicing divorce law.

If you would like, give me a call; I am in northern New Jersey. The telephone consultation will be free. I would be happy to help you out.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: you can not rely on the advice of an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.