Co-signer

[deecopperpot]

What is the name of your state (only U.S. law)? FL

This may be a dumb quesiton but...my fiance recently had a credit report run on himself as we are thinking of buying an investment home and found a $8000 loan that he he thought his ex wife co-signed but realizes now he must have co-signed for it. It was for his step daughter's college loan. This was signed about 8 years ago and she is paying the payments. It was an ugly divorce and no one speaks to anyone except in court. Is there anyway he can get out of it or what is the worse scenario? Obviously she does not know he co signed or she would not be paying. Any insight would be appreciated.

Thanks

 

[Antigone*]

What is the name of your state (only U.S. law)? FL

This may be a dumb quesiton but...my fiance recently had a credit report run on himself as we are thinking of buying an investment home and found a $8000 loan that he he thought his ex wife co-signed but realizes now he must have co-signed for it. It was for his step daughter's college loan. This was signed about 8 years ago and she is paying the payments. It was an ugly divorce and no one speaks to anyone except in court. Is there anyway he can get out of it or what is the worse scenario? Obviously she does not know he co signed or she would not be paying. Any insight would be appreciated.

Thanks

Even in the best of economic times a lender never let's go of a source of repayment for a loan. Having said that, do you really thing that could happen today???

Worse case scenario step dad gets to back back the lender.

There you go...confusion cleared up. That was easy...