if you have a cosigner can a company you owe money to take your home?

Asked by Rachel, Gilbert, AZ Mon Feb 2, 2009

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Randy Hooker, Agent, Chandler, AZ
Tue Feb 3, 2009
Hi Rachel!

If you've taken out a mortgage loan with you and a co-signer, and the house was pledged as collateral against the loan/note, then the lender can most likely foreclose on the property - regardless of who the co-signers are, or how many there are. You would be well advised to seek the counsel of a local Realtor and perhaps an attorney as well. ANd if you're already in pre-foreclosure, you need to shake a leg and find out your options right away.

Let me know if I can help further.

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Matthew Bart…, Agent, Glendora, CA
Mon Feb 2, 2009
Hi Rachel,

My advice with regards to your question would be to consult an attorney that specializes in Real Estate Law. Good luck.

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