My husband bought a house (that we have been living in) twenty years back but ever since he has been using it as a collateral to get bank loans to run his business. When and how he got me to sign papers, I don't know or remember. We are joint owners of the house. I am now in my mid fifties with three kids and am getting insecure about losing the house. Often I have brought up the topic (of getting back the papers from the bank) but he never answers my questions. Another thing is that he does not divulge any information about his business and its liabilities. From what information I have managed to gather, it seems he is a very valued customer and the bank would never want to lose him. It also seems that the collateral given to the bank is much more in value than the loan taken. In short the bank can easily give back the house papers but are not doing so. Also I sense my husband is embarrassed to ask back the papers due to his friendship with the bank officials or maybe he is uncomfortable in doing so. Can anyone guide me as to how I can recover my house papers from the bank? He had a heart attack last year and had to get an angioplasty done. I am more and more convinced that the house papers are never going to come back unless I do something about it. Can I do something? What can I do? Any lawyers out there? Please help.

Mrs Frustrated

Hello Mrs:

If the house is being used as collateral, the bank isn't going to release it just because you want them to. Besides, if you're a CO owner of the house, you should have been signing loan papers over the years. Did you?

Look, this appears to be a domestic issue. If you want more information about your husbands business, ask him. If he DOESN'T want to tell you, there's NO legal way you can force him. Sure, you can go to the bank and demand to see all the papers, but I don't think that's going to work.

excon

Agree with Excon - Bank is not going to do something because it's what you want or think should happen.

Go to the bank - if you are co-owner they should disclose whatever liens/loans there are against the property. In many States any liens/loans are also on file with the County.

Ask your husband. If he refuses to answer, consult an Attorney.

You signed but don't remember signing?

The fact is that the property was pledged as collateral. Until the loans are paid off, the bank will maintain a lien on the property. The only way to change that is to pay off the loan.

If you want to see what liens are on the property start with the county clerk. Then go to the bank. If you are the co-owner of the property and you signed for the loans, then they have to provide you with info about the loans.