Had a car repo. and was told by the bank that the loan was a Custom loan and they could take action on my fathers house which was a cosigner.... Can this be done? What is a custom loan? Look at my paper work and it says nothing about a custom loan...
Answer
Never heard of a custom loan. However, as a co-signer you farther is equally as responsible as you are on the loan. The bank likely not be able to seize your father's house but they can get a judgment on him and place a lien on the house.
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