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Updated almost 5 years ago on . Most recent reply

Gere W.'s profile image
Gere W.'s profile image
Gere W.
  • Investor
  • from Granville, OH
  • Member since Jan 19, 2020
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29
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Gere W.'s profile image
Gere W.'s profile image
Gere W.
  • Investor
  • from Granville, OH
  • Member since Jan 19, 2020
Connect
Gere W.
  • Investor
  • Granville, OH
12
Votes |
29
Posts
Starting Out

Multiple people on mortgage

Gere W.
  • Investor
  • Granville, OH
Posted

Is it possible for multiple people to go on a mortgage? How does that work? Say for instance, 4 people go in on a $400,000 house. They all will live there (primary residence). Now, each will pay $100,000, but all need a loan for it, so how does that work? 4 people's names on the same mortgage? What if one person stops making payments for instance? Are they other 3 now required to pay the financial slack?

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