The Cosigner of My Loan Has Never Lived In My Home. Why Are They Involved In My Short Sale Request?


I am currently assisting some Kansas homeowners with a request to Wells Fargo of an approval of a short sale of their home.  Their existing loan is FHA and we have requested a pre approval to participate in the short sale program.  While meeting to discuss the various possible options available, I learned that the homeowner that lived in the home was responsible for making the monthly mortgage payments.  Therefore, according to her, she would be the one to request the short sale approval from Wells Fargo.

BUT, what she did not realize is that because her parents had co-signed for the loan at the time of the initial FHA loan was taken out, they too would be included in the request for the short sale and a possible foreclosure.  Just because her cosigners did not live in the home and that she had agreed with her “parents” to make the monthly payment, does not mean that they are immune  to having to provide the required  information and meet the guidelines of the lender from whom a short sale is being requested.  They are also on the note to repay the lender back.

If you have a cosigner on your note, remember make sure that all parties on the note understand what their obligations and requirements are when applying for a short sale approval.
(Image courtesy photostock /


If you don’t know what to do if  you are falling behind on your mortgage payments or you are currently facing foreclosure of your Kansas City home, Kansas or Missouri, please continue to read the upcoming posts and Request a Free Confidential, no obligation, analysis of your home and options that may be available to you to help reduce the burden you may have.

(There are potential tax consequences that should be discussed with a tax professional.  Please do not interpret this information as providing legal, tax or other professional advice which you should seek independently.)
(Image courtesy


About the Author:

Suzanne Hinton
Hinton Group-Affiliated with ReMax Premier Realty
Voted 5 Star Best in Customer Satisfaction Real Estate Agent
Phone: 816-520-0917

©2011 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor
Kansas City Short Sales


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