My husband and I both applied for a construction loan and were approved. We both signed at closing, no money was released at that time. My husband went to the bank alone and opened a construction checking account with those funds in his name only.
We separated shortly after, and he continued to draw on the account until my attorney froze what was left. How am I not on that account? Nothng was signed for this, and I am held responsible for the loan with my husband. I asked the bank about this and got four different versions about how this could happen, with one being it should not have happened. Please help me.
You need to pursue this question with your attorney and the bank. In many cases state laws will influence this.
Separating the two transactions, the loan is one issue and you signed on that. The second transaction is the checking account. Funds are to be used from this account to pay for the construction, on a home that you own, so you are receiving benefit. It doesn't seem that anything was done wrong here, unless there was an agreement that you would both manage the construction spending account.
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You need to pursue this question with your attorney and the bank. In many cases state laws will influence this. 