No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
Buyer's credit is extended to finance the purchase of goods or services. A letter of credit guarantees that a payment will be received. If the buyer doesn't make a payment, the bank has to pay.
Limited credit experience means that a person does not have much in the way of credit history. This means that a person has used credit as payment in the past, but not to a great deal.
It is their legal right to never inform you and simply allow your credit deteriorate. It is your job as the cosigner to make sure the contract is up-to-date.
You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.
The cosigner's credit score is used. They are the one responsible if the primary signer defaults on payment. Both credits are ruined if the car payment is missed. Be very careful of who you sign for!
It will appear on the CR of both parties.