Hi everyone, this is a question for a mortgage law assignment that is due this week.
A husband and wife jointly own a house (no mortgage)
The husband wishes to borrow $70,000 to buy a sports car and use the house as security.
Does the wife need to be included in the loan agreement between the husband and the bank? How? and why?
If anyone could help me, it would be greatly appreciated. Cheers
A husband and wife jointly own a house (no mortgage)
The husband wishes to borrow $70,000 to buy a sports car and use the house as security.
Does the wife need to be included in the loan agreement between the husband and the bank? How? and why?
If anyone could help me, it would be greatly appreciated. Cheers