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Does a cosigner have to live at the same address as the primary borrower on a loan?
Wiki User
∙ 12y ago
No. No. A co-signer on a loan does not have to reside at the same residence as the primary borrower. Once the co-signer signs for the primary borrower; he or she is as liable as the primary borrower. As far as where the co-signer resides is up to the company providing the loan proceeds. Example: parent co-signing for a collge loan for their child who lives or attends school in another state.
Wiki User
∙ 12y ago
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Does the cosigner have to live with you?
. Generally, no. A co-signer on a loan does not have to reside at the same residence as the primary borrower. Once the co-signer signs for the primary borrower; he or she is as liable as the primary borrower. It should be noted that some lenders may have their own requirement that the co-signer live at the same address as the primary borrower.
Does a primary borrower have to put up with a cosigner constantly harassing them?
If the borrower isn't living up to their obligations, and affecting the co-signer's credit rating, they have every right to ride the borrower about it. The borrower convinced them that they were worthy of the co-signer's trust. they need to live up to that obligation.
How do you qualify for a reverse mortgage?
To qualify for a reverse mortgage, the borrower must be at least 62 years old, own their home in full (or be able to pay the balance on their home with the proceeds of the reverse mortgage), and live in that home as their primary residence.
What happens if the loan borrower dies then the guarantor passes away shortly after?
borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death
Can someone be a cosigner for an apartment if they live in another state?
Whether or not an apartment complex would allow someone from another state to become a cosigner would be up to them to decide. They have the right to set their own rules in regards to who would be allowed to cosign.
Does the cosigner have to live with you?
. Generally, no. A co-signer on a loan does not have to reside at the same residence as the primary borrower. Once the co-signer signs for the primary borrower; he or she is as liable as the primary borrower. It should be noted that some lenders may have their own requirement that the co-signer live at the same address as the primary borrower.
Does a primary borrower have to put up with a cosigner constantly harassing them?
If the borrower isn't living up to their obligations, and affecting the co-signer's credit rating, they have every right to ride the borrower about it. The borrower convinced them that they were worthy of the co-signer's trust. they need to live up to that obligation.
Can a cosigner live in a different state than the borrower?
That depends on the lending institution, but most lenders will accept an out of state cosigner as long as the person qualifies.
In Florida you and ex are on loan you as primary you returned truck he was not paying you live on disability will they go after him once you show you have no means to pay?
Yes, if he is a co-borrower or a co-signer he will be subject to collection procedures if the lender cannot recover the deficiency and fees owed from the primary borrower.
What is primary address?
Your first address where you live. Its current and your main one. Secondary, compared to it as your second house.
What is a Primary Address?
Your first address where you live. Its current and your main one. Secondary, compared to it as your second house.
Do i qualify for the tax credit if i bought my house as 2nd home but actually live in it?
The key here is this. Is the second purchase your PRIMARY residence? If you live in the home 24/7...not a vacation home...you use this address for your mail and primary residence, then it IS your primary residence. That fulfills the obligation in the rules for the tax credit.
How do you qualify for a reverse mortgage?
To qualify for a reverse mortgage, the borrower must be at least 62 years old, own their home in full (or be able to pay the balance on their home with the proceeds of the reverse mortgage), and live in that home as their primary residence.
What happens if the loan borrower dies then the guarantor passes away shortly after?
borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death
In Ontario can you be the primary driver of your mother's car if you live at a different address?
Yes you can. just make sure that your insurance company knows where you will be living. keVin Toronto
Does your address have to be where you live?
yes because where you live is your address an it does that's it.
What is meant by residential address?
Residence could be the people that live with you, and the address is, well your address of where you live.
