Legal Question in Credit and Debt Law in Kentucky

Generally that is how it works, but I don't believe the bank is actually required to give notice to the cosigners until initiating foreclosure proceedings, unless there is something in the contract that provides for that. Still, if the cosigners are willing to put forth the money to get the account current, I would use that as a negotiating tool to waive some of the attorneys fees and court costs -- that no attempt was made to contact the cosigners, who could have paid up much sooner.