Wednesday, February 11, 2015

Can a bank make you a co borrower without your consent in writing?

Question

Can a bank make you a co borrower without your consent in writing?



Answer

As a general rule, no. However, more information is needed to determine if there is something unusual in your case. What type of loan is it? Do you have another loan with the bank? Why did the bank make you a co-borrower? Is this a modified loan?

Also licensed and practicing in Maryland



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