Being a co-borrower, however, isn’t the same as being co-owner. Joint ownership has to do with how the property is deeded, which is separate from the mortgage transaction. Co-borrowers do not have financial interest in the property either; they cannot borrow against the house the way you could as an owner, or profit from its sale.
There are exceptions to this in certain cases, such as when the co-borrower is a spouse, or related by blood.
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