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    askmoon7's Avatar
    askmoon7 Posts: 2, Reputation: 1
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    #1

    Aug 18, 2010, 11:45 AM
    Property has Two Title holders- One leaves, the other stay dealing with the Bank
    Property has Two Title holders- One leaves to live somewhere, the other stay dealing with the Bank and the Foreclosure issues. Can the remaining title holder still save the property? The loan is a FHA... a government. Is there is still hope? What will happen to the title holder that left.. What will happen to the one left behind dealing with everything?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Aug 18, 2010, 01:11 PM

    The title holders have equal responsibility and equal rights. If one person walked away from the property and the other couldn't afford to keep up payments they can sue the defaulter for what they owe. Both title holders will have the foreclosure on their credit records.
    askmoon7's Avatar
    askmoon7 Posts: 2, Reputation: 1
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    #3

    Aug 18, 2010, 01:55 PM
    Quote Originally Posted by ScottGem View Post
    The title holders have equal responsibility and equal rights. if one person walked away from the property and the other couldn't afford to keep up payments they can sue the defaulter for what they owe. Both title holders will have the foreclosure on their credit records.
    Thank you for your quick response!
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