Can Wacovia put a lean on my moms house just because my brother didnt pay his car?

ok so my brother got a car from nissan he didnt pay my mom was only a co-signer when the repo man ask for the car he said it was voluntary repo(whatever that is) the car was auctioned and Wacovia is now calling my mom scaring her telling her that they are goign to put a lean on the house, but how if my mom was just a co-signer? can Wacovia do this if not /so what do u recomend.???

---

Answer:
Your Mom won't lose her home, she just can't sell or refinance it without settling the lien Pay off the loss, If Wachovia was the lien holder and your mother co-signed she is equally responsible for the loss and they have the right to try and collect, placing a lien is a sure-fire way of collecting at some point in the future. some times they will accept a part of the payment to just clear the books, but people can look far a lot more of this with the I don't like it let the bank/GMAC/Ford Motor Credit-whoever just have it and walk away.

---

Answer:
Yes, if she co-signed they can go after her for the money.

---

Answer:
Well if you're brother is not paying the money he owes then the bank has every right to try and get in from your mom..that's what a co-signer is for..she guarantees the loan if your brother defaults. I would be kicking my brother's butt for giving the car back…that's what a voluntary repo is…that's the dumbest thing he could have done. The bank just auctions off the car for whatever they can get for it and your mother is stuck with the balance of the loan. Call the bank and set up some kind of payment plan to pay off the balance of the loan…you can't get out of paying it. I wouldn't be inviting my brother for Easter dinner.

---

Answer:
She wasn't "just" a co-signer. By co-signing, she guaranteed that the payments would be made. That's what co-signing is.

---

Answer:
As the cosigner, she is responsible for paying if your brother won't. And yes, they can put a lien on the house! Your brother better come up with the money or your Mom could lose the house!

---

Answer:
That is what the meaning and responsibility of a co-signer is.

---

Answer:
Because your mom co-signed for the loan. She accepted responsibility if your deadbeat brother didn't make his payments. He defaulted on the loan, and they are going to collect from her. Lesson here boys and girls: DON'T CO-SIGN FOR A LOAN, FOR ANYBODY!

---

Answer:
Tell her to pay. They DO have the right to do whatever to get paid. She signed, now she pays.

Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | Facebook | Technorati | Google | StumbleUpon | Window Live | Tailrank | Furl | Netscape | Yahoo | BlinkList