Refinance Contract In N.y.c.

[PERRYMASON007]

What is the name of your state?What is the name of your state? I'm in Brooklyn, NewYork and I recently "Refinanced" property.....My father's name is on the deed to the property..I explicitly forbid the company to utilize his credit profile as he is a senior citizen ..In the closing contract BOTH our names appear as "BORROWER"...Does this make my father legally and financially responsible as I clearly believe that I am the sole obligator in the deal......The company is "Ameriquest Mortgage Company".....The entire package appears to be in order......one can't help but wonder "what if" I wasn't able to maintain the payments, could my father's assets be levied on in any manner, way ,shape or form?????????????????????????????Need advice in BKLYN!!!!!!!!!!!!!!!!!!!!!!! He wasn't required to sign any papers other than the fact that he knows that the deal is taking place

[JETX]

Originally Posted by PERRYMASON007

In the closing contract BOTH our names appear as "BORROWER"...Does this make my father legally and financially responsible as I clearly believe that I am the sole obligator in the deal.

With his name as 'borrower', it is very likely that he will also be expected to sign the mortgage agreement. And if he does, he will be equally obligated.

one can't help but wonder "what if" I wasn't able to maintain the payments, could my father's assets be levied on in any manner, way ,shape or form?

Yep. That is what a co-borrower is.