Posted on: 21st Apr, 2009 03:53 pm
HI MY NAME IS CARLA.3 YEARS AGO ,I HELPED A FRIEND TO PURCHASE A HOUSE IN WHICH I ADDED MY NAME AS A BORROWER AND HIM AS A CO-BORROWER.I WAS TOLD AT THE TIME IT WILL ONLY TAKE 6 MONTHS TO GET MY NAME OUT OF IT.ITS BBEN 3 YEARS AND IM STILL STOCKED WITH IT.THE WORSE PART IS THAT HE IS NT MAKING PAYMENTS NOW IT IS REALLY AFFECTING MY CREDIT.HE IS NOT PICKING UP MY CALLS EITHER.I DON'T KNOW WHAT I SHOULD DO. PLS HELP ME.
You need to hire an attorney.
thank you i tought so too
Hi yonta,
As a borrwer, you are liable to make payments to the lender. If he does not make the payments, it's you who would be held responsible. You cannot take your name off the loan unless he refinances it in his name. Thus, there is little you can do about this situation. You can however, consult an attorney and see what he/she has to say.
As a borrwer, you are liable to make payments to the lender. If he does not make the payments, it's you who would be held responsible. You cannot take your name off the loan unless he refinances it in his name. Thus, there is little you can do about this situation. You can however, consult an attorney and see what he/she has to say.