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Do all owners of undivided property have to sign a mortgage?

Ramon Kelly

in Student Loans

1 answer

1 answer

Daniel King on January 22, 2018

Yes . An experienced, quality lender will require that all of the owner's sign the mortgage since the main idea behind mortgages is that if there is a defect of the lender you can take possession of the property by foreclosure. If there are multiple owners and only one signed the mortgage the lender could only foreclose on that person's interest in the property. I could not take possession of the property. Ask around at their local banks to get a better idea about what is expected of a response. Beware of predatory lenders which will promise anything, and then empty the pockets of the closing costs and fees.

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