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.
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. ...
Asked in Loans, Mortgages, Money Management
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. ...
Asked in Probate
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. ...
Asked in Home Equity and Refinancing, Foreclosure
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? ...
Asked in Loans, Co-signing, Mortgages, Money Management
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. ...
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. ...
Asked in Nursing
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. ...
Asked in Mortgages, Home Equity and Refinancing
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 ...
Asked in Co-signing, Home Equity and Refinancing
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. ...
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. ...
Asked in Mortgages
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. ...
Asked in Health, Medicare and Medicaid
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. ...
Asked in Divorce and Marriage Law
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. ...
How much money will a nursing home take from you if you are on Medicaid?
Medicaid will expect you to pay to the nursing home the income/assets you have that exceed the Medicaid standard. ...
Asked in Business & Finance
What is an asessment of personal assets and liabilities?
An assessment of personal assets and liabilities lists all your assets (like your home, car, money in the bank, etc.) and your liabilities (debt in the form of loans, house mortgage, etc.). The asset's values are totalled and the liabilities are totalled. Comparing you total assets and total liabilities will show your financial situation. ...