Posted on: 22nd Jul, 2009 05:23 am
If a house deed was transferred to one owner, is the person no longer on the deed still responsible for mortgage?
yes the property is mortgaged
and owner is responsible to pay remaining amount
and owner is responsible to pay remaining amount
ownership right and liabilty for mortgage payment are 2 diff issues.
how about a real answer: if a person transfers ownership but had been an original signer on the loan note, then the obligation remains. transferring ownership does not eliminate someone's responsibility for payments.
