Can my husband give house he purchased in his own name back to lender
My husband purchased a new property in his own name in December 2007.. He has a 100% mortgage on property and is now finding keeping up the payment's very difficult. We have a joint mortgage on a second property with a small mortgage. We are in our late 50's.
Can he give the lender back the property and if they can't sell it for what he paid for it due to the credit crunch would they make him sell the other joint names property to make up the difference.