If the borrowed amount is less than $50,000.00, the mortgagor can use the same lawyer but it is important to know that the lender’s lawyer will not be in a position to answer any questions as the lender can only represent one side of the transaction. The lender’s lawyer will have the interest of the lender in mind, so the mortgagor may not be able to receive the legal help that they truly need. It is always preferable that each party get proper representation separately so that their best interest is fully protected.
