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If 4 people are on a mortgage and a lien is put on the home due to 2 people does it affect the credit of all?
Posted on January 26th, 2010 3 commentsmadsmom_99 asked:
My husband and I have found ourselves in the unfortunate situation of having a lien put on our home due to past child support. We are in the process of having this straightened out but are concerned that the lien will affect my parents who are co-signers on the loan for our home.My husband recently finished his bachelor’s degree, and we had been making small but monthly payments to two different agencies. We received notice last August that one agency was increasing his payment, making it a little over double what we had been paying to both. I mistakenly believed that the payments had been combined and started making only one monthly payment. We have since realized that this was not the case, and are making arrangements to rectify the situation. Our main concern is for my parents. We are worried that our mistake is going to affect their credit. Any advise is greatly appreciated.
Hazel
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