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Can you buy a home with a co-signer who has a higher ratio or assets?
Wiki User
∙ 17y ago
Yes, you should have your loan officer check what your interest rate would be with a cosigner and without. If the cosigner has a lot of debt and not very high income it might be better not to put them on the loan.
Wiki User
∙ 17y ago
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How do you take cosigner off of home loan?
You have to get the bank of financial institution to release the other person from the contract. In order to do that you must both contact them, and the insitution will decide if you have the nessessary assets and credit rating to have to loan only in your name.
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
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)
Can you buy a home after foreclosure with a cosigner?
Yes. And you may be able to buy it without a co-signer.
Can a cosigner of a home loan receive half of the proceeds?
Did you help make payments? If all you did is to cosign, then no.
Can a lender call the home number of a cosigner in order to verify the information of the cosigner?
YES!
How do you take cosigner off of home loan?
You have to get the bank of financial institution to release the other person from the contract. In order to do that you must both contact them, and the insitution will decide if you have the nessessary assets and credit rating to have to loan only in your name.
Can the cosigner sell the home if payments are not being made?
Absolutely not!
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
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)
Can you buy a home after foreclosure with a cosigner?
Yes. And you may be able to buy it without a co-signer.
Can a cosigner of a home loan receive half of the proceeds?
Did you help make payments? If all you did is to cosign, then no.
If you helped your mother get a home and her name is on the deed but yours is on the note and she has been missing payments is there an easy way out?
The only option to be removed as a cosigner is to have the secured property refinanced without the cosigner being involved.
Can a loan company place a lien on a cosigner's home?
They cant legally "threaten" to do do anything that they cant legally do, so the answer is YES, they can attach your home.
What if the home is paid off and only 5000 in debt do you have to sell the property for probate?
If there is $5000 in other assets, no. But if the only assets are the home, yes, it will have to be sold to settle the debts.
Can a mortgage company place a lien on a cosigner's home?
You bet they can. The co-signor is just as legally liable for the debt as the first signor. Yes. A cosigner is usually equally obligated for the loan, so anything they can do to one signer they can do to the other.
If an adult child is a cosigner on the mortgage to her parents' home can she be relieved of the debt responsibility when she marries?
The mortgage would have to be refinanced without the participation of the adult child as cosigner. Debts incurred before marriage do not become the responsibility of a new spouse.
