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    snsw's Avatar
    snsw Posts: 1, Reputation: 1
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    #1

    Jan 26, 2010, 08:17 PM
    C0-signing issues
    My husband co-signed a mortgage and a line of credit for his mother 3 years ago when she bought her house. For the past two years we have been giving her money to pay the mortgage. We went to apply for a loan ourselves and were denied because apparently she made late payments on the loan. She claims that it is a mistake, but the Bank claims that it is not and will not remove the mark on our credit. I want to get our names separated from each other. I should also mention that she owes more then the house is worth and that she does not have any income other then us. What are our options?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jan 26, 2010, 08:29 PM

    You are basically stuck, she will have to get a new loan to pay off the current one to get you off, if she had to get a co-signer before ( and there would be a reason) she will need more now, with late payments.

    Why not get her to give you the money and you make sure it is paid on time?
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