IF the mortgage is in both names and the deed in only in one name because of general warranty deed can the person be removed for not making mortgage payment
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IF the mortgage is in both names and the deed in only in one name because of general warranty deed can the person be removed for not making mortgage payment
Hello k:
The loan can be foreclosed upon and then everybody will be removed - from the loan and the house.
excon
Quote:
Originally Posted by keltat78
Let me make sure I understand this - you are saying two people are on a mortgage. (It's a joint debt but both are 100% individually responsible.)
Only one of those people is on a Deed.
Can the person on the Deed be removed if the two parties don't make the mortgage payments?
If this worked everybody would put a mortgage in 2 names, a Deed in 1 name, stop making the payments and live there forever, free.
In the event you aren't joking, it's called foreclosure and everybody gets removed from the property.
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