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Does a cosigner have any legal rights to sell your house if there has never been a missed payment or late payment?
Wiki User
∙ 17y ago
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
Wiki User
∙ 17y ago
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When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
Where can a person go to buy a house with no down payment?
It is not easy for one to purchase a home with no down payment. In the US one can apply for an FHA loan but must also have a cosigner. Once one qualifies, there is no specific locations where one must purchase. There is additional information that can be found on the SFGate website.
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Average house payment?
The average house payment depends on the size of the house and the location it is in. High-violence locations have cheap house payments for example.
What is a monthly payment called?
Amonthley payment on a house is called a "Mortgage"
Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
How many months behind before house is foreclosed?
Usually after 90 days. A good rule of thumb is 60 days after the first missed payment.
Is the cosigner responsible for other debts beside the item such as house rental he has cosigned for?
A cosigner is only responsible for the items that he has cosigned for.
Where can a person go to buy a house with no down payment?
It is not easy for one to purchase a home with no down payment. In the US one can apply for an FHA loan but must also have a cosigner. Once one qualifies, there is no specific locations where one must purchase. There is additional information that can be found on the SFGate website.
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
What are the rights of borrowers when the cosigner is considering a lawsuit to force them to take a second mortgage so the cosigner can recover money paid because the mortgage was defaulted on?
The cosigner has the right to file a lawsuit against the primary borrower's to recover his or her financial losses due to the defaulted lending agreement. The procurement of a second mortgage does not seem viable if the primary borrower's credit was not originally sufficient for them to obtain the loan without the need of a cosigner. It is more likely the house will have to be forfeited by means of foreclosure and the cosigner will have to try to recover losses by other means. The primary borrower's best choice is to obtain legal advice as to what their options are before a lawsuit is filed against them.
Average house payment?
The average house payment depends on the size of the house and the location it is in. High-violence locations have cheap house payments for example.
What is a monthly payment called?
Amonthley payment on a house is called a "Mortgage"
If separated does husband still owe half the house payment?
It all depends on whose name is on the house. If his name isn't on the house, then he doesn't have to pay half of the house payment.
Marias new house cost 235000 The down payment was 0.5 of the cost of the house How much was the down payment?
47.000
What happens if you are a cosigner on a house that is being foreclosed on?
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
