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yes
IF the lender approves, YES.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan.
is there a limit as to how much money a person on social security can accumulate
There are a few mortgage companies that one can use even if one has bad credit. The downfall of this is that you will need to have a cosigner, and will likely have a higher interest rate.
They could still cosign. It would mainly land on the bank to see if they would approve this person as a cosigner. More then likely they would if they have a mortgage as well as 2 other car loans that are up to date. This person probably has very good credit and all they'd need is a good amount of funds coming in to get approved.
If the person is unable to pay, the bank can foreclose.
Not if a party has a proper power of attorney (POA) to represent the cosigner. The mortgage company will tell you what form of POA they want, and generally it is included with the paperwork, and the POA will have to be notarized. I know this from personal experience, I am a Notary Public and back in the early 2000s I was handling mortgage refinancing where the mortgage company pays me to go out to people's houses to watch them sign, what is called a "mobile notary," and when someone else is signing on behalf of a person not present, they will tell the mortgage company and have a power of attorney with whatever wording the mortgagor wants, signed by the cosigner and notarized, authorizing the substitute person to sign on their behalf. That would be included with the paperwork sent back to the mortgage company. But you have to notify the mortgage company ahead of time and find out what form they want the power of attorney to be; most have their own specific form they want you to use.
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
As long as their debt to income ratio is low enough. Generally your mortgage payment should be 25-35% of your net income (what you actually bring home)
Yes, a civilian can assume a mortgage of a Virginia property. In order to get a loan for a property in Virginia, the person must have a credit check completed. If they have good credit, their chances of being approved for the loan are higher. If they have bad credit, the bank or loan officer may ask for the person to have a cosigner.