Legal Question in Banking Law in Texas

We co-signed a construction loan for someone, but now the relationship has been severed. The loan is due to be resigned and the bank is making him do a conventional loan where he has to make payments. Do we have to co-sign it, or can we say we no longer want to help? Can his parents take over as co-signer? The relationship ended on a bad note.

Asked on 4/04/10, 4:15 pm

1 Answer from Attorneys

Mark Dunn Mark D. Dunn

I think what you're saying is that he is refinancing.

No, you absolutely do NOT have to sign anything. If he refinances alone, you're off the hook for the debt.

Read more
Answered on 4/10/10, 12:04 am

Related Questions & Answers

More Banking Law questions and answers in Texas