Can your parents cosign for your house loan?
Anyone can if they have enough good credit. Relationship to you has no bearing.
Can a minor take out a loan if their parent cosigns and if so is the cosigner financially responsible for the signer?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
If you Co-sign auto loan and the person defaults on the loan- can the finance company take your house?
That would be a very unusual procedure. If your parents want you to have this money, to the extent that they are willing to co-sign for the loan, and you are under 18, what would normally be done is that your parents would simply borrow the money themselves and give it to you as a loan which you could repay to them, and they would then repay the bank. Minors do not normally borrow money…
If your parents bought a house in their names because your credit could not secure a loan can your wife and you later refinance in your names only?
Can a UK resident co-sign for a student loan for a student who is a US citizen going to school in the US?
You'd need to ask your friends and family. No one you don't know is going to cosign for you, and a lot of people you do know may turn you down also. Answer If you need someone to cosign a loan because you cannot obtain it on your own, you should not get a loan. All you are doing, in essence, is passing on the problem to another person, who will likely end up paying…
No! You would have to have your parents cosign for you. Having a fairly good paying job, owning a boat, condo, house, property is classified as "collateral" and the loan is put against that. The reason for this is if you choose not to make your car payments or can't make your car payments then the bank will take whatever collateral you have put against the loan. The bank is in the business of lending…
Are surviving children in the state of Florida responsible for their deceased parents debts as a mortgage loan if the house was left in their will?
Yes. When getting approved for a loan, you have to fit into certain criteria. There is something called your Debt to income ratio. This ratio determines if you can afford the loan. If you co signed on a loan, that mortgages payment will go against your income for your debt ratio, and unless your making a lot of money it could ultimately hurt your chances of getting a loan.