A Commercial lender or a local bank may not see it the same way but it can be nearly assured that a lender who sells a loan to Fannie Mae, Freddie Mac, or Ginnae Mae will be using the below to determine contingent liabilities: (copy & paste FNMA guide)Co-Signed LoansWhen a borrower co-signs for a loan to enable another party (the primary obligor) to obtaincredit—but is not the party who is actually repaying the debt—the borrower has a contingentliability.The liability does not need to be considered as part of the borrower’s recurring monthly debtobligations if the lender can verify a history of documented payments on the co-signed debt bythe primary obligor and ascertain that there is not a history of delinquent payments for that debt(since this could be an indication that the co-signer might have to assume the obligation at somepoint in the future).Generally, the primary obligor should have been making payments on the debt for at least 12months (although shorter payment histories may be considered on a case-by-case basis).The liability does need to be considered as part of the borrower’s recurring monthly debtobligations if:• payment by the primary obligor cannot be sufficiently documented,• a sufficient payment history has not been established for the debt, or• the primary obligor has a history of being delinquent in making payments on the debt.

Perhaps a Texas person will chime in here and fill in  the details.An actual assumable loan has a defined process for approving the new debtor, transferring the loan into that person's name and recording the appropriate documents to reflect the change.With a few noteworthy exceptions, as long as the payments keep coming in on time, most lenders will "go after bigger fish", so to speak.

General Growth has received a debtor-in-possession financing commitment of about $375 million from Pershing Square Capital Management LP as agent.Pershing Square, the hedge fund run by William Ackman, owns about 25 percent of General Growth shares and had been urging the company to file for bankruptcy.

Try and negotiate the terms of the debt, or as others have said, try and refinance to lower interest rates.

They can be simple or complex.Creditors have a hard time dealing with a debtor in a TIC as a minority holder, they can't put other owners in a position to lose money, equity or future income, they can tag the income from the amount due the minority owner as it is received.Bankruptcy of a fractional owner generally has little effect on the one taking bankruptcy and won't as to other owners. 

Most of the wholesaler types I know in our market for example have gone into new construction.. they can find a lot and build and sell.. trustee sales are way down.. as are distressed assets..but there will always be those that cant manage their personal debt or have other problems.but what the internet has done ( forget digital marketing) it has created LEGIONS of people that think they can be successful wholesaling and so you have way more folks trying to do this than there is inventory in many of he markets.Its a strong economy and an inventory issue. 

You must also certify that you have not acquired new debt or a new loan during that time period. 

And, no, creditors should not be bugging you personally, they usually realize that you don't have to pay them first and being nice has a better chance of a payoff than being a hardnose like they might be with the debtor.

The property either services the expenses and the debt, or it does not.

Then approach the owner to restructure the debt or let them do a DIL to you the new lender.They will get hit for forgiveness of debt but can be resolved with the help of their tax person or cpa.