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Joint Account Means Joint Problems

I have a joint account with my brother and he is behind on his mortgage loans. Can they take the money out of my joint account? I have money, but he does not, and is way behind in payments.

Untitled

If your brother's mortgage lender takes legal action against him and is able to obtain an attachment, garnishment or other legal claim to funds he has on deposit, and if the mortgage lender identifies your joint account as a target, funds in the account could be reached by the legal process, regardless of whether the money was deposited by him or by you.

Published on BankingQuestions.com 3/25/10