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Can you have a cosigner to get a line of credit on your home since you have bad credit?
Wiki User
∙ 16y ago
WHERE I WORK I HELP CLIENTS GET EQUITY LINES OF CREDIT AND WHEN I'VE DONE THEM WITH CO-SIGNERS, BOTH SIGNERS NEED TO BE ON THE PROPERTY'S DEED. YOU CAN SIMPLY ADD THE OTHER PERSON WITH SOMETHING CALLED A QUICK CLAIM DEED THAT AN ATORNEY OR TITLE COMPANY CAN DO.
Wiki User
∙ 16y ago
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Does the credit of the cosigner gets affected if car is not paid?
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
Does a co signer have the right to borrow against and raise the amount of your line of credit?
A cosigner can only raise a line of credit on a home mortgage if both borrowers sign. Borrower and co borrower. It cannot be done by only one.
Does having a cosigner help your credit?
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.
What is a home equity line?
A home equity line of credit is a loan that you take out from a bank using the equity in your home as collateral. By doing this, you are able to get a lower rate since the debt is secured by your home.
Who is responsible for company credit card after the company declares bankruptsy?
The company. The liability is one of the many the BK will resolve. Of course, if there was a cosigner or such on the credit line, they are involved too.
How does one apply for a Chase home equity line of credit?
One may apply for a Chase home equity line of credit loan via the Chase credit website. A Chase home equity line of credit allows one to use their home as collateral for a variable-rate line of credit that can be used for a variety of purposes.
Home Equity Line of Credit Calculator?
Home Equity Line of Credit Calculator Use this calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.
Can you take out a home equity line of credit on a mobile home?
Yes, but you will not get as much money as on a regular home, depends on the year of home, how it looks, if your credit is good you should get at least 15,000 to 20,000 credit line.
What is the home equity loan and line of credit?
The home equity loan is a way to release the equity of your home in order to borrow money. A line of credit is a phrase used for a method of obtaining credit.
Why would someone need an equity line of credit?
Equity line of credit is typically used in reference to a home loan. The amount of money paid into your home is your equity. With a home equity line of credit, it acts like a credit card. One may need it if they can not qualify for a credit card, or a higher credit limit on their cards.
Can someone who is on the home deed but not on the mortgage get a home equity line of credit?
The persons who are on title must both sign for a equity line of credit.
