Legal Question in Credit and Debt Law in Michigan

Cosigner's death

My recently deceased husband cosigned a home equity loan for our son. Am I liable for the loan?

Thanks for your time


Asked on 3/14/08, 10:01 pm

2 Answers from Attorneys
Stuart Collis Collis, Griffor & Hendra, PC

Re: Cosigner's death

No.

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Answered on 3/14/08, 10:29 pm
Renee Walsh LawRefs Nonprofit

Re: Cosigner's death

Any liability your husband would have would be paid out of his estate assets. If your son is making the payments, then, it is unlikely that the lender would ever discover your husband's death. Even if they did, since he is deceased, the should look to your son. You might consider checking to see if there is a clause in the contract regarding death of a cosigner / party to the contract.

If you would like further information, please contact me via my website at www.lawrefs.com.

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Answered on 3/14/08, 11:58 pm


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