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  • What does it mean if my name is on the title of the home and not the mortgage but i make the down payment?

    Posted on December 7th, 2008 admin No comments
    residence asked:

    I want to buy a home with a friend. He is a resident of the country, I am not a resident and i do not live in the country. As a result the bank has said they can give us the Mortage in his name but my name will be on the title. What are the implications if i make the down payment and contribute to the mortage via a Joint account. My name will be on the title but not on the mortage. Can the title change without my consent, are there any implication as i am not a resident. What are the exposure/consequencies

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