subject: Benefits and Drawbacks of a Joint Loan [print this page] In case the couple divorces, or in case of the partners breaking their partnership, there would be a problem for the repayment of loan. The debt needs to be split between the two applicants. This will be a complicated process. The bank would need to modify the mortgage application. This might result in the need to sell the house and pay the debt. Debt-splitting is a tedious process that involves heavy stress and huge legal fees.
Benefits and Drawbacks of a Joint Loan
By: Ryan Paul
welcome to Insurances.net (https://www.insurances.net)
