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Can a primary signer get off the loan when the cosigner wants to take over payments?
Not likely, the lender will probably require you to refinance the loan in only the co-signers name.
Can a co-signer make a primary signer refinance?
No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.
Can a cosigner take over the total loan on a car?
Yes. You need to discuss this with the lender.
Can the cosigner be taken off the loan if the primary borrower has made over a year of payments on time?
The only way for a co-signer to be taken off the loan, would be for the primary borrower to refinance the account.
If the cosigner can prove they made all the payments and paid off the loan can they take the car?
No. The co-signer would need to take all that evidence and sue in court to get title to the car transferred unless the owner is willing to sing over the title.
Can a co-signer take over car payments without the need to 'sell' the car?
If his name is already on the title, you can't sell him something he already owns. You should be able to have your name removed from the title if you want, and the bank may be willing to change the loan to your fathers name as primary borrower and remove you from the loan.
If the lender doesn't want the car how would the co-signer take over payments?
The co-signer would make the payments as usual and at the end of the financing, the owner would sign the title over to the co-signer. That is probably not good because the owner would still be financially responsible for the vehicle. The co-signer should refinance it in their name.
What happens when a co-signer on mortgage dies would the estate for the co-signer have to pay off the mortgage?
if your on the title be prepared to take over the payments.
What are deferred payments?
Putting off payments until the end of a loan or to be paid over the course of the remainder of the loan. This will not effect the balance of the loan but there may be fees for not paying on time.
What can be done to you in Florida if you are the cosigner on a vehicle that is up for repossession but your husband is in possession of the vehicle and they cannot find it?
They will come to you for the money if they can't find him. It will be on your credit as a repo as well. As a co-signer, you sign that you will take over payments if the signer fails to make the payments.
Is amortization of a loan done by all loan places?
Loan amortization is the paying off of a debt over time, through payments. The payments include interest as well as paying of the debt. All loan companies do offer this.
If you want to take over the payments on someone's vehicle is it possible to just add the person's name as the co-signer?
With some banks, yes. With others, they will require you to obtain a new loan. Find out what car dealers don't want you to know at www.dealertricks.com
