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    pepper5628's Avatar
    pepper5628 Posts: 2, Reputation: 1
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    #1

    Jan 26, 2012, 03:43 PM
    Home seizure
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jan 26, 2012, 04:18 PM
    No, but they may be able to place a lien on the home.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    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.
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