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Answered 2007-03-03 01:04:03

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.

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Can a lender call the home number of a cosigner in order to verify the information of the cosigner?


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 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 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)

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.

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.

If you have assets in your home can you be force to sell it if you file bankruptcy?

If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.

What accounting convention is being applied when the owner's home computer is excluded from the assets of the business?

Business entity convention because ownerโ€™s assets must not be included with business assets

If you are being sued by a bank can they take your home?

Had a business loan and 2 home equity loans and assets as collateral... delinquent on business since it is now closed but current on equity loans... Can the Bank take all assets and home for collecting the business loan (now closed) plus all assets?

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.

Can a cosigner have their name taken off a home debt?

No. The loan must be paid off to release the co-signer from their obligation.

Are home equity loans secured by borrowers assets?

Yes, given that the "borrower's assets" in this case are the equity the borrower has built up in their home. In a home equity loan, you are borrowing your own money, in effect. And if you don't pay it back to yourself, it comes out of the value of your home when you sell it.

Is an executor allowed to bar access to a home?

The executor is responsible for the estate's assets. This means making a complete inventory of the house. The inventory must then be submitted to the court. They can protect the assets by preventing access to the home.

What happens if you are in a nursing home and medicare runs out and you have bank assets?

Apply for Medicaid, now. Your caseworker will determine how much of your income/assets you will need to pay to the nursing home (or for other medical expenses) in order to be eligible.

What is the ratio of nurse to residents in a nursing home?

This is all dependent on the nursing home-it varies. It should be that if your services users needs are being met than ratio correct and if needs not being met than ratio wrong.

What would Payment be for 250000 home?

The answer would depend on your credit, income, and assets. Higher credit scores will mean lower APRs and therefore lower payments. Also, higher income or offering collateral on the home (collateral would something, in addition to the mortgaged home, which the bank could take from you if you default) would lower your APR and get you lower payments. The only way to find out for sure would be to go to a lender and apply for a home loan. DSB

Can a auto dealership remove home furnishing from a cosigner home on a defaulted loan?

Not without a court judgment and a Sheriff Deputy present. If they try otherwise, call the police and have them arrested for trespassing.

What is the ratio of male and female in India?

to go home

Can you buy a home after chapter 7 if you dont have any assets?

Generally within two years of a bankruptcy discharge the consumer(s) can usually find a mortgage lender. Of course the consumer must have established a good credit history, have acceptable income level(s), and so forth. Even if all the criteria is met the lender may require a cosigner.

How do you qualify for state aid for a nursing home?

You have to go to the medicaid office to apply for help with fees. You have to have less than @200.00 dollars and assets. You cannot give any money away previous to 5 years for asking for help. Rules vary among States, but the asset limit is much higher than $200.00. Also, the nursing home resident may transfer income and assets to the spouse living in the community.

How much income do I need to buy a home?

It depends on your recurring monthly debt (minimum monthly payments). This number divided by your gross monthly income give you your debt-to-income ratio. This ratio can be no higher that 57 (but in most instances 45) with the proposed new mortgage payment in order to qualify.

What is prenuptual agreement?

In a prenuptial agreement, you list your assets that you own prior to the marriage to keep them separate from the assets obtained during the marriage. Most people just list their home, savings/retirement accounts, family property that was inherited and other large assets.