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Published: March 24, 2008
Co-signing similar to Russian roulette
By Dave Ramsey
DEAR DAVE

I just found out that my mother co-signed the loan for my son’s new car. He defaulted, and now she’s making the payments. Does this mean she owns the car that was financed with the loan? If not, how do I go about taking over the car? I want to sell it.

Patty

DEAR PATTY

No, this doesn’t make your mom the owner of the car unless she signed as an owner. But the first thing you do ...

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