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help settle a difference .
carlos700
Posts: 507 Forumite
This question is to settle a argument which i have been having i am sure my friend is wrong but she wont have it right here goes -
If somebody has a morgage and it is in joint names and the house gets repossessed my friend says it is who ever name is on the morgage first they are the ones who will never be able to get a morgage again ,so if your name comes second on the morgage even though you have had a house repossessed you could go ahead and get another morgage .This sounds rubbish to me .
I may be wrong but i have never heard of this does anyone know what my friend is talking about is there such morgages as this ?
Also when you do have a house repossossed can you ever get a morgage again are there companys that would give you a morgage .
If somebody has a morgage and it is in joint names and the house gets repossessed my friend says it is who ever name is on the morgage first they are the ones who will never be able to get a morgage again ,so if your name comes second on the morgage even though you have had a house repossessed you could go ahead and get another morgage .This sounds rubbish to me .
I may be wrong but i have never heard of this does anyone know what my friend is talking about is there such morgages as this ?
Also when you do have a house repossossed can you ever get a morgage again are there companys that would give you a morgage .
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Comments
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It is rubbish, if they both took out the mortgage they are jointly and severly (sp) liable, they will both have their credit records affected and there really isn't any such thing as will never get a mortgage again it just means they will likely pay a higher interest rate than anyone else...."You've been reading SOS when it's just your clock reading 5:05 "0
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