My Fiancé has co-sign for her Mom about 6 years ago. At that time.. the mom was living with her husband and making payments as normal. Now they have a Mobile home and the mom is now single again. it seems that the lot fees from where the House is located are more increasing more and more.
The mom wants to move the house to a mobile park in Texas. and perhaps try to sell it later.. but she has also talked in the past about just walking away from the entire mess.. ie: filing bankruptcy.
What do you see as a favorable outcome with the issue that might effect my Fiancé who is about to graduate from college at the end of the year.
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any repo will kill her score for 2 - 7 years I would do everything I could to get the thing sold and your fiance's name off the loan.
of course finances and situation play into this.
but a 13 or 7 would show on your fiances report just like her mother
and she could be liable in court and possibly face a judgment in the future.
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The problem is that it is a Mobile home and there are about 5 in the same block that are still not yet sold.. Prices dropped.. Landscape upgrade.. you name it.. they have done that..
I am thinking that her mom is going to drag herself down.. and get my fiancé’s signature on the house move.. and see what happens later..
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you got it right
Monday, January 14, 2008
Fiance cosigned with mother on a mobile home. Mother wants out
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