Consolidated with cosigner
Date: Tue, 12/08/2009 - 18:46
I had a loan that my mother cosigned for me..
Now, I recently consolidated my debts with a non profit counsel place (she had to sign with me to consolidate because she was a cosigner)
Now she recently tried to refinance or remortgage on her home (dont know the difference)
they told her this debt has to be paid off before she can proceed,
Is there anyway around this? i feel soo bad for putting her in this position.
Now, I recently consolidated my debts with a non profit counsel place (she had to sign with me to consolidate because she was a cosigner)
Now she recently tried to refinance or remortgage on her home (dont know the difference)
they told her this debt has to be paid off before she can proceed,
Is there anyway around this? i feel soo bad for putting her in this position.
Unfortunately I don't think there is any way round. The lenders
Unfortunately I don't think there is any way round. The lenders are right that the loan needs to be paid off before she can refinance the house.
She has taken the responsibility of repaying the loan when she signed the loan document as cosigner hence the debt consolidation move would equally affect her credit.
