Title is in 2 names, mortgage is in 1 name. Non-liable cotenant
Posted: Thu Jun 14, 2012 11:52 am
Alik,
Your first premise isn't in accord with what I know to be industry
practice. Bank would never fund a loan and let only one of two
title-holders sign the note/TD. Same is true for the second TD. You
would need to explain the circumstances.
Second, if B, the non-signing tenant in common (?) is still on title,
his/her interest is encumbered by the two loans.
Third, we don't know if this is a principal residence or a rental
property.
Gerald McNally
McNally Bus Card Smaller
Gerald McNally
McNally & Associates, P.C.
517 East Wilson Ave., Ste 104
Glendale, CA 91206
818.507.5100
Fax: 818.507.5001
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