Asked in Real Estate Law for Tennessee

Q: My home was purchased 13 years before marriage. I owe less than 5K. Is spousal signature required at closing of a HELOC

My home was purchased in 2016. My wife and I married in 2016. Her name is not on the deed and the mortgage is paid from my personal bank account. With less than $5000 remaining on the mortgage, I've been approved for a HELOC. However, the bank is requiring my wife's signature on the deed of trust. I'm concern about commingling finances and have challenged the bank's stipulation.

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1 Lawyer Answer
Anthony M. Avery
Anthony M. Avery
  • Knoxville, TN
  • Licensed in Tennessee

A: If the lender demands the spouse's obligation on the Note, then that is their prerogative. You may have to borrow somewhere else.

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