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.

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


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