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Collections Law/home title lien from co-signer
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Question
I recently found out when i was trying to refinance my house that there's a lien on my title. After investigating i found out it was from a car that was repossessed from my Husband (now separated) he was listed as a co-owner since he just co-sign the house. He might have received the letter to be in court..i'm not quite sure. Can they do this without my approval? the loan on the car was signed a year before i bought the house. He doesn't and never has made any payment on the house...This is very frustrating..i don't even owe money on a credit card..all my payments on the house were never late.
I am afraid they probably can. If he has an interest in the home it is his asset and if the creditor obtained a judgement legally he can place a lien on the property. However this depends on your state. YOU may negotiate a settlement to pay a lesser amount but sooner or later it has to be paid. Best sooner than later though as interest may accumulate. Not a good situation but it is what it is.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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