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If 2 people cosign as borrowers for a mortgage how can you get one person off the mortgage if they aren't making any payments?
Wiki User
∙ 14y ago
The only way to remove a borrower from a mortgage is to refinance the mortgage.
Wiki User
∙ 14y ago
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Why are refinance rates lower than new mortgage rates?
Because new borrowers may have no history of making payments while in a re-fi the bank knows the borrower made their payments reliably.
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
Am you considered a homeowner if you are still making mortgage payments?
Yes
How can one get a low rate on the mortgage refinance?
There are several ways a person can get a low rate on the mortgage refinance. A person can get a lower rate on their mortgage if they make the payments longer, making the monthly payments be less.
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
What is Mortgage EMI Sleeping PeriodMortgage EMI Sleeping Period offers mortgage borrowers a break from making mortgage EMI payments, It allows borrowers to utilize their EMI payments for other emergencies?
Mortgage EMI Sleeping Period offers mortgage borrowers a break from making mortgage EMI payments, It allows borrowers to utilize their EMI payments for other emergencies. Mortgage EMI Sleeping Period can be a huge relief to borrowers presently as the interest rates have been increasing.
Does Chase provide amortization tables for borrowers?
Chase does provide amortization tables for borrowers if the borrower is looking at a mortgage. It can be accessed through one of their calculators that calculates the benefit of making extra payments.
Would cosigning a car loan hurt you for a mortgage?
It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.
Why are refinance rates lower than new mortgage rates?
Because new borrowers may have no history of making payments while in a re-fi the bank knows the borrower made their payments reliably.
Federal Student Loan Payment Based on Income?
Borrowers who enter the repayment period on their student loans, but have trouble affording their payments have an option. The federal loan service allows borrowers to make payments on their student loans based on their income. Borrowers must submit records of their income to qualify for income-contingent payments. The lender will evaluate the borrowers' income and set their payment amount accordingly. Borrowers still accrue interest during the period of time that they are making income-contingent payments. However, borrowers may still save money by making these lower payments if they do so in a timely manner, thereby avoiding earning late fees or defaulting on payments.
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
Am you considered a homeowner if you are still making mortgage payments?
Yes
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
How can one get a low rate on the mortgage refinance?
There are several ways a person can get a low rate on the mortgage refinance. A person can get a lower rate on their mortgage if they make the payments longer, making the monthly payments be less.
Can you claim mortgage interest with quit claim deed if you are not on the mortgage?
You must be making the payments to claim the interest. However, if you are not on the mortgage there could be an issue.
Can you sell a car you are making payments co-borrower?
Co-borrowers would both have to agree to sell and sign the paperwork to sell a car you are making payments on. This could not legally be done by one person.
How can I pay my mortgage off quickly?
The best way to pay of your mortgage earlier is to make additional payments soley towards the principle of your loan. Also you could shave off years of payments by making bimonthly payments.
