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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2788
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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If 2people have a joint mortgage on a property and 1 of them

Customer Question

If 2people have a joint mortgage on a property and 1 of them default, can the lender claim all from the remaining person who jointly borrowed the loan?
Submitted: 1 year ago.
Category: Law
Expert:  Harris replied 1 year ago.
Hi, thank you for your question. Yes, they are both jointly and severally liable as joint holders of the mortgage - so the mortgage company has the option to either claim jointly against them or against just one of them to reclaim the debt.What stage of the purchase are they at? Have they completed the purchase?
Expert:  Harris replied 1 year ago.
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively as I will not be credited for my response without a positive rating.