My grandmother signed for ny father to get a loan on her home and failed to pay it back. The loan is in her name and she is 85 years old. Can her home be forclosed and her be kicked out? Is there a law protecting the elderly from forclosure?
1 Answer from Attorneys
If she signed the loan papers and if the loan she signed was secured by a mortgage on her home, the home can be forclosed if the debt is not paid.
Never co sign or borrow money for another is a good rule to follow.