foreclosure question - please help!
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Posted by boxgirl
(12.214.247.18) on January 13, 2004 at 19:55:29:
In 1997 I cosigned for a home in Alabama with my mother (I was 18 at the time) The home was foreclosed on in 1998 by the bank - The home was sold and then the bank sued and got a judgement (in Alabam) for the difference of the selling price and what was owed. The judgement was only against my mother - not me. I know live in Florida. Recently the owed balance was sold to a collection agency. In Dec 2003 I received a letter from the collection agency wanting me to call the to arrange payoff or risk further legal action. How can this affect my credit report - and since there has already been a judgement against my mother - what can they legally do to me?
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