Posted on: 12th Apr, 2011 02:57 pm
Can both be on a DEED,not married, but one of them have the Mortgage, and later can the person in mortgage get a second loan without the other one in the deed be in the Second loan, or knowing about it??? Is that possible? Or does the person need to have both in Deed be present? Just woundering?
Hi Guest,
A person can get a second loan in his/her name if that person's name is mentioned on the property deed. However, in most cases, the lenders will ask the other owner of the property to sign the mortgage docs as well.
A person can get a second loan in his/her name if that person's name is mentioned on the property deed. However, in most cases, the lenders will ask the other owner of the property to sign the mortgage docs as well.