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View Full Version : Home seizure


pepper5628
Jan 26, 2012, 03:43 PM
I co-signed for my sister for a car loan. The car was repossessed and now the bank wants me to pay. I understand that it is my responsibility, but I don't have the money. My sister is out of work due to a back injury and is also trying to come up with some money. They have threatened to seize my home to satisfy the loan. Can they actually do that to satisfy a $9k loan?

ScottGem
Jan 26, 2012, 04:18 PM
No, but they may be able to place a lien on the home.

Fr_Chuck
Jan 26, 2012, 05:13 PM
No, this is just threats, They really want you to set up a payment plan with them. * OK really want a check for full. But if you don't do something, they may well get a lien against your home.