Can you get out of a co signed home loan?

Can a bank automatically take a payment out of a co signers acct if loan is late?

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

If your father died and your aunt co-signed a loan for my father can she make me pay it or is she soley responsible?

If your aunt co-signed a loan then she is responsible for paying the loan. That's exactly what she agreed to do when she co-signed. It is not your debt.

Can you get a mortgage if you have co-signed a loan?

The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.

Is it possible to be a co-signer on a mobile home loan if you already own a home of your own?

It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.

How do you get your name taken off of a loan you co-signed for without having to pay the transfer of ownership payment that the borrower does not want to pay?

When you co-sign that is YOUR LOAN! I am sure your banking institution made you aware of this. When one chooses to co-sign it's because the person they co-signed for cannot get a loan for one reason or the other. In over 90% of the cases the person you co-signed for does not pay off the loan. I suggest you go into your banking institution where you co-signed for that loan and make an appointment and see what they can do for you. However you handle this you will be paying out something.

Can a cosigner remove the primary from the loan?

No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.

What happens if you co signed a student loan and the primary borrower dies?

Their going to come after you to pay the debt. YOU CO-SIGNED! That means in the event that the primary borrower can not or does not pay the loan you are responsible to pay that loan. There is no way around that.

If you go bankrupt so you still owe for a cosisgned loan?

No, your obligation on the co-signed loan is also discharged, unless their are other issues (like the co-signed loan payment being part of a divorce agreement or order).

Does a person have to start paying their loan when only the co signer signed the contract papers?

If only one person signed the loan agreement then there is no co-signer. That one person would be the borrower and the borrower must pay the loan.

Who's credit is affected if a cosigner is bankrupt and the loan is defaulted?

Both parties on the loan. Co-signer and other person they co-signed for

If you cosign on a home that is foreclosed what is your liability?

You probably co-signed on the MORTGAGE LOAN that was used to buy the home. As co-signer, you are also entirely responsible for payment of the loan....and if the primary borrower defaults you can expect the lender to come to you for payment, or if they have to foreclose and sell the property, for any losses they incurr doing so. Thats what you co-signed for...saying you were responsible for the debt if the other borrowers didn't prove to be responsible.

You co-signed on a vehicle loan and the other signature was forged what are your rights?

You should be more interested in your liabilities. If the other signature was forged then the loan is a criminal matter. You will need to explain why you co-signed a forged loan document and who took the money.