ruggy Posted January 19, 2009 Posted January 19, 2009 Let's say two people would want to live with each-other, but there is a problem. Both own condos in two towns where they currently live. One just bought theirs a few years ago. One has owned it for years. The one that has owned it owns it a small mortgage. The other owns it with 25 years or so left on the mortgage. What do you (they) do?
Geishawhelk Posted January 19, 2009 Posted January 19, 2009 The one with the little mortgage keeps theirs, and the one with the big mortgage moves in. They sign up a legally prepared document splitting all buills, but the mortgage stays with the owner. The one with the big mortgage keeps paying the big mortgage, but gets tenants.
Author ruggy Posted January 19, 2009 Author Posted January 19, 2009 Interesting. Wonder if the one with the large mortgage would agree.
Geishawhelk Posted January 19, 2009 Posted January 19, 2009 Yes, I didn't think somehow, that this was really a "let's say....."
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