The mortgage guarantor is not the same borrower as appears in the loan contract.
***Both the borrower and the creditor are jointly and severally liable, that is, the creditor can claim all the creditor's rights from any one person, and neither party can use the internal responsibility for the debt between them. Distribution Agreements Confront Creditor Claims.
There are two types of guarantees, one is general guarantee and the other is joint guarantee. Different guarantee methods carry different responsibilities. If the guarantor who bears joint and several liability is unable to repay the debt, the creditor does not need to initiate legal proceedings and can directly require the joint guarantor to assume the debt. On the contrary, if it is a general guarantee, the creditor can only require the guarantor to repay the debt when the creditor tells the court that the debtor is unable to repay the debt.
Legal basis: "Guarantee Law"
Article 16 Methods of Guarantee The methods of guarantee include:
(1) General guarantee;
(2) Joint and several liability guarantee.
Article 18 Joint and Several Liability Guarantee If the parties agree in the guarantee contract that the guarantor and the debtor shall bear joint and several liability for the debt, it is a joint and several liability guarantee.
If the debtor under a joint liability guarantee fails to perform the debt at the expiration of the debt performance period stipulated in the main contract, the creditor may require the debtor to perform the debt, or may require the guarantor to assume guarantee liability within the scope of its guarantee.
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