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Can you refinance a car if you don't know the original cosigner's location?
In order to refinance your car loan you need to have good enough credit to refinance in your own name and pay off the prior loan. If you pay off the prior loan you don't need to know the co-signer's whereabouts.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
Where can one find home loan refinance quotes and rates online?
Home loan and refinance quotes and rates can be found on numerous sites online. These sites include Close Your Own Loan, Chase Mortgage Refinance, and America First.
I put a down on my car and make all the payments. No credit to go on my own but now the other person is out of my life. How do you remove the primary on an auto loan and add a cosigner?
The only way to get the other persons name of the auto loan is if you finance there another lender. The other finance company pays off the amount left on the existing loan, and then form a new contract soley with you name on it. But what if you don't have the credit to get a loan in your own name?
Should a co signer be told if something they signed for is getting repoed?
No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.
Does a co-signer have the right to take away the car or ask for you to refinance only in your name because you broke up?
Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.
What is the best way to refinance a home loan rate?
The best way to refinance a home loan rate is to obtain another loan without having a mortgage. In this way in the event of inability of payment, the customer will be insured and not lose own home.
Do you always need a cosigner?
A cosigner is needed when the primary borrower does not, for whatever reason, (age, income, credit rating, etc.) does not qualify for a loan on their own merit.
What are some companies that offer to refinance a mortgage online?
There are many companies online that offer to refinance a mortgage. Some of these companies include E-loan, Close Your Own Loan, Lending Tree, and Quicken Loans.
What the loan cosigner's responsibility when the loan is for a friend?
A cosigner's responsibility is to pay the loan in full if the primary borrower fails to pay. The connection to the primary borrower is irrelevant, whether it is a family member or a friend. You should never co-sign unless you can afford to pay your friend's loan. You should also note that when you are required to pay the loan as a cosigner (after the primary borrower defaults) your own credit may be ruined and you will be paying for property that you do not own. The default rate for people who need co-signers is high.
How can you be a cosigner if the title is in the name of the person you cosigned for?
Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.
