Filing a Lien on Co-signer for default
I live in Texas & own my home. In 2001, I signed on a loan with my grandson for a new mobile home. The mobile home was repossed in Sept 2006 & sold on January 2007 by the lendor. There was a balance remaining which has been turned over to a credit agency. They have just today (9/15) sent me a settlement letter for a reduced price but I must pay by 9/19. On the phone they told me that if i didn't pay the settlement or anything, they would file a lien on my own property. Can they file a lien on my property? What are my options?