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You took out a loan for your sister now you want to buy a home but this is keeping you from doing that how can you let them know you are not paying that loan?
Wiki User
∙ 15y ago
It doesn't matter. What matters is that in the even she stops paying for the loan you are listed as the person that will have to pay for it. That add's to your debt as a co-signer. In order to get out of it she would need to redo the loan in her name only or get a new co-signer. If she had enough income / credit she would not have needed you to co-sign in the first place. That tells a lender that the original lender would not give her the money unless a 2nd person - you - were willing to guarantee the payments.
Wiki User
∙ 15y ago
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