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If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Does an assumed loan show up on the original borrowers credit report?
If the borrower formally assumes the note, another words the bank gives the ok to the new borrower, the bank can notify credit bureaus to delete that entry in credit report. If new buyer takes title "subject to" without the banks permission the original borrower will still show up in their credit report. because as far as the bank is concerned you are still responsible, no matter who pays the note.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
My mortgage company is asking for explanation on two things that show up on credit report How come three that I know about did not show up on credit report they pulled?
It's possible that you have done business with a company somehow connected with the mortgage company. This being said, they may have some sort of inside information on your payment history in their internal system. Your credit report as you view it is the same as the mortgage company's view so this is the only explanation I can think of.
What are the pros and cons of being a co-borrower on a mortgage application as a homemaker with debt?
If this was my call I would not do it there are no pros to this topic.If the primary signer bails you are in deep doo doo. Whoever the lender is they see something on your credit report that they can sieze from you if the primary signer is unable to pay. the other con is that the lender will show up as an inquiry on your credit report which will hurt your score
If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Does an assumed loan show up on the original borrowers credit report?
If the borrower formally assumes the note, another words the bank gives the ok to the new borrower, the bank can notify credit bureaus to delete that entry in credit report. If new buyer takes title "subject to" without the banks permission the original borrower will still show up in their credit report. because as far as the bank is concerned you are still responsible, no matter who pays the note.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
You are attempting to establish credit in your own name your mother is co-borrower on your student loan Will it show on your credit score?
It will only show on the primary borrowers credit report. If the primary defaults on the loan then the responsibility falls to the co-signer. In brief, if the loan is in good standing the primary borrower will have it on their credit report only. If the loan is late or is defaulted it will be reported on both the primary and co-signers report.
If you co sign on a loan does it show up on your credit report if they stay current with the bills?
Yes. All co-signs will show up on your credit report becaue you are ultimately responsible for that debt should the primary borrower not make the payments.
What is the time delay for new credit specifically a car loan or new mortgage to show on one's credit report?
Usually about 30 days.
My mortgage company is asking for explanation on two things that show up on credit report How come three that I know about did not show up on credit report they pulled?
It's possible that you have done business with a company somehow connected with the mortgage company. This being said, they may have some sort of inside information on your payment history in their internal system. Your credit report as you view it is the same as the mortgage company's view so this is the only explanation I can think of.
What are the pros and cons of being a co-borrower on a mortgage application as a homemaker with debt?
If this was my call I would not do it there are no pros to this topic.If the primary signer bails you are in deep doo doo. Whoever the lender is they see something on your credit report that they can sieze from you if the primary signer is unable to pay. the other con is that the lender will show up as an inquiry on your credit report which will hurt your score
Who do you contact for a cosigner information to show up on their credit report?
You don't have to contact anyone. The lender will report information on the primary borrower, cosigner, joint owner, guarantor, and other relationships.
Does a judgment for forecloser show on all owners credit even if they are not on the mortgage?
A foreclosure is reported under the name of the borrower(s).A foreclosure is reported under the name of the borrower(s).A foreclosure is reported under the name of the borrower(s).A foreclosure is reported under the name of the borrower(s).
Does a mortgage show up on both borrowers credit report?
If the account is a joint account (bill comes in both of your names), then yes, it will be reported to both of your credit reports.
If you are a second signer on a car loan does it show on your report?
No you are not the Borrower. But if the person you sign for fails to pay, you get to assume the lone and if you don't pay it them becomes bad Credit reporting on YOU and Them.
