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co-sign on loan

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Julio Guest	Posted: Tue Jul 20, 2010 9:58 am    Post subject: co-sign on loan Like 0 Dislike 0 I need your advise, my brother lives in CA and has a home that my dad co signed on. My dad lives in Colorado and is dying of cancer. If my brother defaults on his house, can they take parents home here in Co. to pay the default even after my dad passses away. How do we protect my mom from my brother?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Wed Jul 21, 2010 12:13 am    Post subject: Like 0 Dislike 0 Hi Julio, The lender can place a lien on the property located in Colorado in order to recover the dues. However, to do this, the lender will have to file a lawsuit against your father in Colorado and get a judgment against him. If your father wants to save the property, then he can transfer the property to your mother. Thanks

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