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my grandma co sighned for my brothers house. theres only one loan, and owes more then the house is worth. she also cosighned for my house .

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Icon Mini Profile dustyfagan





Joined: 04 Feb 2011

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Post Posted: Fri Feb 04, 2011 5:09 am    Post subject: my grandma co sighned for my brothers house. theres only one
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can the bank attach to my home? my house is in california. his is in nevada. can they attach to her savings? what is the best solution?
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

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Location: New Jersey
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Post Posted: Mon Feb 07, 2011 2:11 am    Post subject:
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If your brother and grandmother do not pay off the loan, then the lender may attach a lien to your property. This is because as your grandmother has co-signed for both the properties, she is the owner of both the properties. The lender can come after the grandmother's second property in order to recover their dues.
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