Posted on: 02nd Feb, 2009 02:36 pm
My sister and her ex-fiancé decided to purchase a home. Since his credit is bad she put the mortgage in her name but he is on the title. Does he have any financial obligation?
No, your sister's ex-fiance does not have a legal obligation tpo pay the mortgage because his name is not on the loan. However, if he'd like to save the home from being foreclosed, he can repay the loan.
i have equity in my home and would like to allow someone who is not on the title to do a home equity loan, can i do this?
No