I would think that most parents who signed were given to understand that they could be released in a few years when "things improved". .
Much publicity in the papers today and this morning on Newstalk that banks are chasing parents who signed guarantees for their children Home Mortgages. I would think that most parents who signed were given to understand that they could be released in a few years when "things improved". Unfortunately events proved otherwise. My query is if a parent signed such a guarantee and has died and the only asset is a jointly owned family home and a joint bank deposit what action, if any, could a bank take against the estate of the late parent as it would seem to me that the estate would have no assets.
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