A cosigner can only be relieved of the financial obligation through refinancing of the loan without the current cosigner's participation.
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Since you are both on the loan you are both on the title. You can refinance without them on the loan but would need them to sign the title over or transfer at close.
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
NO. As the cosigner, you are only guaranteeing the loan.
yes
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Since you are both on the loan you are both on the title. You can refinance without them on the loan but would need them to sign the title over or transfer at close.
No.
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
The only option is for the loan to be refinanced without the particpation of the present cosigner.
Seven years.
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.