co-signed on a condo that is being foreclosed on, will I loose my own home as well?

Daisy
Other/Just Looking
Colorado

Answers (2)
Stuart Dobson
Broker
Thornton, CO

Hi Daisy,

I mostly agree with Lillian on this one, but to be certain you should contact an attorney. You may be subject to a default balance judgement, which could be theoretically turned into a real property lien through a complicated series of steps. Again, I'm not an attorney, and you really should conact one to be certain you are safe.

good luck

Fri Apr 17 2009, 08:26
Lillian Lively
Agent
Denver, CO
FIRST ANSWER

The only way you will lose your own home is if you are behind in your payments on that property and the lender chooses to foreclose. The condo you co-signed on doesn't affect any other property you own. It stands alone.

Tue Apr 14 2009, 21:58

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