Is there a case here at all?
One borrower (“Cindy”) put’s down 30k so they qualify for the loan. Then she makes every mortgage payment thereafter. This is due to the other borrower (“Joe”) just being a douche and really really bad with his money.
Cindy finally get’s fed up and moves out.
Joe, still living in the house, says multiple times “I’ve been keeping up with paying the mortgage” and “I’m fixing it up so we can sell it”. Cindy even gives him checks every month because her name is still on the loan.
Come to find out, Joe was lying the whole time and the house was in forecloser. And the “repairs” he was making was actually damages. (Joe had become a huge alcoholic and tried his hand at carpentry).
So, the house foreclosed and is now selling for a lot, lot less than what they still owe the bank.
Now, putting aside the fact that Cindy should have never signed a loan with this jerk in the first place; is there anything she can do?
Zarg – thanks for pointing out the obvious and stating what she already knows (while not even answering the question), but getting her kids away from the drunk was more important than worrying about credit scores, yes?
I gave you need-to-know info. Don’t assume you know the entire situation.