If I am on the title to property along with someone else but am not on the mortgage, can they legally come after me for payment ?
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Read More Answered By: David Michael Benson |
If your name is not on the loan documents, the general rule (with limited exceptions) is that you cannot be held personally responsible for paying the loan. However, the lender usually has a secured interest in the property and, if mortgage payments are not made, the lender can force the sale of the property through a foreclosure action to satisfy the secured portion of the debt. |
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