For the past couple of months, i’ve obtained a good amount of questions regarding if or not a single who is a non-manager is generally a great co-borrower or co-signer for the a great 50(a)(6) Texas family security mortgage. Typically the most popular circumstance proposed to help you united states is but one in which a partner that would not own otherwise entertain the property seeks to participate the transaction once the a debtor so you can assist the owner inside the being qualified on loan.

Sadly, the fresh new Tx Constitution essentially forbids someone who is not the companion from a manager out of finalizing the newest mention with the property collateral financing. The latest hope to settle the debt by a non-proprietor is additional equity, which is guarantee except that the latest borrower’s homestead, and that is prohibited under the domestic security specifications of Colorado Constitution.