Legal Question in Real Estate Law in Illinois

You may have the right to contribution if you can prove the arrangement up which sounds like there was some kind of oral partnership of sorts. Part of the question will be was it 50% you and 50% the friend and his wife? And when you are saying "he is letting the house get foreclosed on..." why is it only his decision if YOU own the house? That makes no sense. But if you let it go into foreclosure, do you agree with that decision? If there was a first mortgage on the house, was it in your name only -- yours and them? Who will have the negative credit event and have only more problems? Otherwise you may have the right to avoid foreclosure, buy them out and find some other solution -- live in it, rent it out, whatever. You need some help because there are crucial facts missing and it seems that there's more here at stake.

Because you are jointly and severally liable, his grandmother has the right to sue anyone on the note she wants to sue. Based on what appears to be some sort of partnership agreement, you may have the right to sue your partners. However, you will need to prove the terms of the partnership agreement in court. Also, I am not clear if there are two mortgages, one to his grandmother and one to a bank which is foreclosing, or just one to his grandmother and she is foreclosing. That would make a big difference in an answer here.