judgement mortgage

drincognito

Registered User
Messages
6
I own an investment property with a friend of mine from a few years back. My friend is in some financial difficulty and his bank is pursuing him to get a judgement against him. (its the same bank as we got the mortgage from)

I'm just wondering how a judgement against his half of the property would affect the sale of the property?

Currently its in some negative equity and I would be looking to sell up as soon as I can break even from it.

Im concerned that the bank could stop any sale until the judgement mortgage can be paid from the proceeds of the sale.....
 
Back
Top