When owning a home if two people are on the mortgage do you need both people to sign for a home equity loan also?

Answer

It really depends on the state in which you live and whether or not you are referring to a married couple. It also depends on what you mean by "sign for a home equity loan." In Texas, for example, both spouses would have to sign for a home equity loan. And as for the signing, both have to be at closing to sign the documents, but they are not both required to be on the loan itself (i.e. responsible for paying off the debt).

Your best bet would be to call around to a couple of local banks and ask the question. I mention a couple, because that increases your odds of getting correct information instead of just one person thinking they know what is the correct answer.

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