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Barrister
Barrister, Attorney
Category: General
Satisfied Customers: 36606
Experience:  16 years practicing attorney, Realtor, 26 years landlord
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My mother co-signed my mortgage and now she is in risk of losing

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My mother co-signed my mortgage and now she is in risk of losing her company. Will this effect My mortgage?
Hello and welcome! My name is XXXXX XXXXX I will try my level best to help with your situation or get you to someone who can.
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Is your mortgage current right now or is it in default?
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Is she going to file bankruptcy for her company's debts?
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Thanks
Barrister
Customer: replied 3 years ago.

My mortgage is current. I'm in a 5 year fixed mortgage which ends in October2014. So far I know my mother is not planning to file for bbankruptcy. She co-owns the company with My father and they are currently I'm the middle of a divorce proceeding.

Ok, her position as a co-signer is only to back up your position as primary debtor on the debt. So as long as you are current on your mortgage and not in default, her financial position wouldn't affect your loan.
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Thanks
Barrister
Barrister and 45 other General Specialists are ready to help you

Thanks so much for the positive rating and generous bonus, it is very much appreciated!

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It was my pleasure to work with you and help with your question. Please feel free to ask for me if you need help with anything in the future and I will do everything I can to help or get you to someone who can.

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Barrister