As a mortgage co-signer on a foreclosed home how will my credit be affected? Posted on May 10, 2011

I am a co-signer on a mortgage and the house is being foreclosed. Can this affect my credit? I am on the process of buying a new car under my name only with an auto loan and I am approved for such but I am concerned that the mortgage company might take it away from me. Help please with any advise before I buy.

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