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foreclose or repossession

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jkoeby Joined: 03 Jan 2010 Posts: 2 1.32 Dollars($)	Posted: Sun Jan 03, 2010 9:45 pm    Post subject: foreclose or repossession Like 0 Dislike 0 i have a doublewide in tx and i need to foreclose or have it repossessed. Which is best? I cannot aford the payments and am currently trying to sell a second home in another state from when i changed jobs. i also live in my current home. Will greentree servicing go after my father since he cosigned on the loan for me? I would prefer to take care of all of this and leave him out of it. greentree can be very harrassing to my folks and they are too old to deal with harrassment. what can i do???help!
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sun Jan 03, 2010 9:56 pm    Post subject: Like 0 Dislike 0 cosigners are always 100% liable for repayment of a debt. whatever happens with your mobile home will affect your parents as well. presumably, they knew this when they co-signed for you. i understand your concerns about shielding them, but it's not really possible. as for repo or foreclosure, i don't imagine it makes much difference. the laws where you are located will provide the method. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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