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Do you need your cosigner present when you refinane and remove them from the loan?
Wiki User
∙ 12y ago
No but you should let them know they are off the hook. They should be notified that the loan has been paid off and they are no longer responsible for it.
Wiki User
∙ 12y ago
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How can a cosigner be removed from the loan?
The only option is for the loan to be refinanced without the particpation of the present cosigner.
Does the primary signer have to be present for the cosigner to get off of a loan?
no
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
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 cosigner have to be physically present to co sign a loan?
Yes the co-signer has to be physically present to co-sign a loan
Does a cosigner have to be physically present to co-sign a loan?
Yes the co-signer has to be physically present to co-sign a loan
If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
Will refinancing a car loan under the primary borrower's name remove the cosigner from the loan obligation?
Yes.
Does a cosigner have to be physically present to cosign a loan?
That would depend on the rules and procedures of the loan provider. If the cosigner alleged that the signature was not theirs, it could create a problem if the signature was not properly witnessed.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
Can the cosigner remove her name from a loan if the the account was taken to court and judgment was only made against the primary account holder and not the cosigner?
Generally, the co-signerdoes not have any authority or means to remove their name from a loan. That would involve altering the loan documents and the lender's records. The loan is owned by the lender.
