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co-signed a loan with home as collateral

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rn0831 Guest	Posted: Wed May 27, 2009 8:40 am    Post subject: co-signed a loan with home as collateral Like 0 Dislike 0 While married I co-signed a consolidated loan for my wife and used my home as collateral. The home is completely paid for. My now ex-wife cannot continue to make the payments. What can I do? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10148 Location: Nevada 941.94 Dollars($)	Posted: Wed May 27, 2009 8:34 pm    Post subject: Like 0 Dislike 0 Hi rn, As you have co-signed for the loan, you will have to pay off the loan as your ex-wife is unable to pay the mortgage dues. If you do not pay off the loan, then your property can be foreclosed by the lender. Thanks

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