Is it possible to terminate a co-signer when Im the primary account holder? I have a feeling the co-signer is in collaboration with the bank to sell "it" underneath my nose. If something of this magnitude does occur, do I have grounds to pursue a lawsuit against the bank?
I am not a lawyer, but I am taking a property class. If this "it" is real estate, look into getting your co-signer to sign a quit claim. Again, I am not a lawyer, and this is not legal advice.
Yes, it's real estate. Can the bank sell the property with just the co-signer w/o my authorization? Im just worried they might be trying to do something boo boo which will end up wrecking my arrrresome credit. I was in the bank yesterday and they told me to give my co-signer a message. Then she stopped and told me she'll just tell him himself. I told her, if its concerning the property, I believe I have a right to know whats going on. She told me it had something to do with transferring the title or loan then immediately quit. I gave her a WTF? look and asked her for specifics but she wouldn't tell me.....Im going back in today to try to find out more about wtf is going on.
I'm pretty sure a bank can't sell your property without foreclosing on it. As far as what your cosigner can do, it all depends on what interest he has in the property. If he has equity, or the deed is in his name, you probably have more to worry about than if he is a standard 3rd party cosigner.
