Legal Question in Real Estate Law in Florida
Mortgage borrower ''joined''
I'm buying a house in Florida and the ''MORTAGE'' reads Judy ******, a married person, ''JOINED'' by her husband____
What does ''JOINED'' mean?? Thanks Ben
2 Answers from Attorneys
Re: Mortgage borrower ''joined''
If you are the only one signing the promissory note, but both of you are signing the mortgage, then it does not mean that both of you are responsible for payment under the note. Only you would be responsible for payment of the note, but the lender would require your spouse to join in the mortgage to make sure that she would not claim an interest in the property that could not be extinguished easily by the lender/mortgagee in a foreclosure proceeding if you fail to pay the note. Unless she joins on the mortgage, no institutional lender will extend credit your way.
Re: Mortgage borrower ''joined''
Both are responsible for payment
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