From: vze2k6pb@verizon.net (v)
Newsgroups: misc.invest.real-estate misc.consumers.house
Subject: Re: Mortgage Question
Date: Tue, 27 Jan 2004 19:04:35 GMT

On 27 Jan 2004 07:21:59 -0800, someone wrote:

>I own a home that I have a mortgage on and make all payments on. There
>is a co-borrower on that loan. I want to buy a second home. For
>mortgage purposes, will the entire first mortgage count against me or
>just 1/2 of it?

It counts in full against BOTH of you, since either one of you can be
legally liable to the lender for the entire payment.  What your
agreement is between the two of you is of no concern to the lender. 

Co-signing loans is a lot more serious than a lot of people treat it.
I get asked all the time, and then people GET MAD when I won't.

-v.