Legal Question in Real Estate Law in Maryland

Re: Title question

You can be a borrower on the mortgage loan without necessarily being on the title. However, everyone on the title has to sign the deed of trust, which is the document that provides the lender with a security interest in the property. That gives the lender the ability to institute a foreclosure action if the loan goes into default.

If you signed the note as a guarantor but anticipate that the owner-occupants of the property will make the mortgage payments, you should understand that if they fail to do so, you will be responsible to the lender, and there could be adverse consequences for your credit record.