Equity Loan My Condo.Does he need to co-sign?

[AliceK]

Equity Loan-My Condo/Calif-does he need to cosign?

My husband (soon to be ex- but no legal documents have been filed yet)ran up over $20,000 of credit card bills on my cards!
I want to take out an equity loan on MY PROPERTY Location California.(purchased before I was married)to pay off his debts because it is on my credit report.

The loan has been approved, but the bank says I need him to co-sign in case I default.
Should I tell the bank the situation? Should I forget the loan?
I don't want his name on any thing I own..and risk losing my property!
Help!


[Edited by AliceK on 11-30-2000 at 10:40 AM]

 

[I AM ALWAYS LIABLE]

My husband (soon to be ex- but no legal documents have been filed yet)ran up over $20,000 of credit card bills on my cards!
I want to take out an equity loan on MY PROPERTY (purchased before I was married)to pay off his debts because it is on my credit report.

The loan has been approved, but the bank says I need him to co-sign in case I default.
Should I tell the bank the situation? Should I forget the loan?
I don't want his name on any thing I own..and risk losing my property!
Help!

My response:

Do you see that writing in RED up there? Without your State name, or the name of the State where the problem happened, it would be difficult to assist you. Laws are different everywhere.

IAAL