Just approved on HELOC & my husband wont sign in Texas. Help

[Chandra Whittaker]

Ok, so I have a house I owned before we got married which was inherited from my grandparents, the house I grew up in. I still have my Homestead on it. We were married last year & he didn't want to stay there. I have finally gotten in a emotional state to rehab & rent. I am scheduled to close on HELOC Friday now he says he is not going to sign simply as a non borrowing spouse. I was also going to use the funds in the HELOC to purchase my next rental. Texas it is a community property state & the bank is requiring him to sign. I spoke to my real estate lawyer today. He suggested since I own a s-corp prior to us being married, deed it to the s-corp, but then I loose my Homestead & my HELOC loan & would have to resort to a hard money loan of 10% instead of 5%. What should I do & I no longer have the leverage of being able to buy my next property either because of closing cost.

[Jerry W.]

@Chandra Whittaker, my wife has not approved of a single house I have bought yet, except for 2 I sold shortly after acquisition for a hefty profit. I am over 30 doors now. In my case since I was pretty much the sole wage earner it was easier, but still it can be tough. there are several old threads about this topic you might search for. I finally had to point out that I had to work the overtime. If she wanted to go out and get a 6 figure job with benefits I would be glad to stay home and be supportive, but if it was my job to make the money I had to make the decisions, especially since she would not even read a single book on the subject. My wife is a great person but her folks drilled into her that no investment is proper except CDs backed by the FDIC. over the years she has mellowed a little, but either they love or believe in you enough to let you pursue your dream or must decide their fear of investing is more important to them than you are. Now I never said my way or the highway, but I made it clear that it was affecting our marriage. She loves music and I have never discouraged her in pursuing it despite it not paying much especially for the time she invests. We either love each other enough to tolerate differences or not.