Posted on: 24th Dec, 2012 09:58 pm
Hi there… I need answer for my friend. My friend and his spouse jointly own a property. They are no longer together but are still paying the mortgage as the property not has been sold off yet. Now his spouse cannot pay off her share of the mortgage, does it automatically get taken from the other joint owner? Will mortgage companies seek payment from the other named person if one can’t pay?
Hi Guest!
Welcome to forums!
As both of them are liable for the mortgage payments, the lender can come after your friend to collect the dues in full if his spouse cannot make her payments. There is nothing wrong what the lender is doing.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As both of them are liable for the mortgage payments, the lender can come after your friend to collect the dues in full if his spouse cannot make her payments. There is nothing wrong what the lender is doing.
Feel free to ask if you've further queries.
Sussane
Hi Guest,
I agree with what Sussane has said. The lender can come after your friend to recover the debts in full.
Thanks
I agree with what Sussane has said. The lender can come after your friend to recover the debts in full.
Thanks