What is the obligation of a co-signer of the 1st loan on a 2nd loan that was given to original borrower ?

This was a construction loan on a home. Co-signer did not authorize or sign on a 2nd note. Borrower is in default and possibly foreclosure. Current total obligation is higher than market value of home. If property does go into foreclosure how can the co-signer prevent being responsible for the 2nd note? No cash available to just dump into property.

Answer:
You co-signed on the first loan. so I'm afraid you're liable for that portion. As for the second loan, without your signature as a co-signer I don't really see how they can make you liable. You might need to hire a real estate lawyer to sort this one out. this could be a mess.
co-signer of the 1st loan is not obligated to the second but if the first is called because of default on the second or any other reason, the co-signer will be held liable for the first and only the 1st.

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