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Irish1941

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What to do if you are a cosigner on a property and they are not making the payments
My husband cosigned for my daughters townhouse. Now she has decided she does not want the property and is very far behind. We are both in our 70s and on limited social security, and have lots of medical bills as my husband had 2 heart attacks last year and his medication bills are high. We cannot afford to take over her payments, having helped her many times in the past. All our other bills are paid well in advance and we have never been late on anything.

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Try to sell it for what is owed on it, contact the lender and let them know what is going on and hopefully they can work with you in one way or another. Another option would be to rent it to cover the monthly payment, however sometimes it can be hard to find a trustworthy renter, but renting it would be the fastest way to get some cash to apply to the loan.

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