Posted on: 24th Oct, 2012 02:56 pm
can a co-owner obtain a home equity loan without the other co-owner taking on any liability for that loan?
Hi pd!
Welcome to forums!
One co-owner can take out a loan solely in his/her name. If the other co-owner does take out the loan or his/her name is not mentioned on the mortgage docs, then he or she won't be liable for the mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
One co-owner can take out a loan solely in his/her name. If the other co-owner does take out the loan or his/her name is not mentioned on the mortgage docs, then he or she won't be liable for the mortgage.
Feel free to ask if you've further queries.
Sussane
When you take out a mortgage, anybody that is on title will have to sign a few documents at closing. Your co owner will know.
Best Regards;
Dmitriy Bleynis
Regional Sales Manager
Residential Mortgage Division
STERLING NATIONAL BANK
Best Regards;
Dmitriy Bleynis
Regional Sales Manager
Residential Mortgage Division
STERLING NATIONAL BANK