Legal Question in Real Estate Law in North Carolina

Co- owners/ land

Both names are on the deed and loan. One was employed with excellence credit. the other non- working no credit and no credit was pull at time of loan. Who is responsible if primary defaults when the bank based it's decision of the pweson who was employed and pulled up their credit to verify the loan approval.


Asked on 12/23/07, 4:40 pm

1 Answer from Attorneys

Re: Co- owners/ land

Both are responsible for the loan. If one defaults, the bank will go after the other person who signed. It doesn't matter if credit was pulled at the time of the loan or not.

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Answered on 12/23/07, 6:49 pm


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