FHA Co-signer rights
What are my options as a FHA co-signer? My nephew walked away from is home and I am the co-signer and I have my own house I am trying to hold on to. So I can not handle his house. What issues am I going to get and how do I get through this issue by tom.appleyard from , . Aug 6th 2009
Debra Clark (Debra Clark)
#146 ranked lender in California - 42 contributions
As a co signer, you are as much responsible for the loan as the primary borrower. When you signed the loan docs as co signer, you agreed to pay the loan in case the main borrower defaults. Thus, you need to pay off the loan in order to save the property. Otherwise, if it goes into foreclosure your credit will be affected.
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