Yes, a lien can be placed on the home, though it sounds like it would be futile to do so. The creditors, however, are likely to go after everything they can. If they sue you and win a judgment, they are most likely to pursue wage garnishment, which can take up to 25% of your monthly income. They can also go after bank accounts and other personal property (which they would sieze and sell at auction).
If you sister is on one of the defaulting mortgages, they can also go after her personal assets and income. If she is not on the loans, then her potential losses would be limited to her ownership
interest in the real property subject to those loans.
Please let me know, if you have follow-up questions.
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