Can I Use Equity Loc If Mortgage Is In Wifes Name?
I just took out a equity line of credit to have and possibly use in my investing if www.needed.The problem is I did it in my name only. The mortgage is in both my wifes and my name now , but i'm thinking of signing over the mortgage to her because I just formed an LLC and want to take all precations to protect our www.house.Can I still use the line of credit or will we have to close it out and do it over in her name? :-?
Check out the homested laws of your state. Also consider using a trust.