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Foreclosure with 3 signers

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S

suenouveau

Guest
Hello. My boyfriend is getting divorced and cannot keep paying the mortgage on the old house in NJ. There is still money owed on the house and no equity. He and his wife are both owners of the house but the big concern is that his parents are co signers. What happens to them if there is a foreclosure? Does the bank go after them before trying to sell the property or after? Would they take the parents house? How much would the parents really be responsible for? Thanks!
 



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