Yes, as long as the cosigner is a legal gardian or a parent.
Yes, you can replace a cosigner for an apartment with another cosigner. However, you need to get the consent of the landlord.
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
Not possible as the applicant is a minor.
No, first time renters do not generally need a cosigner. They may if they are young like 18 years old or have credit or financial issues.
Yes, an 18 year old can be a cosigner for an adult. At the age of 18, the individual themselves is considered an adult. Any adult, depending on whether or not their credit is good or bad, can cosign for another adult.
The cosigner has the same legal obligations to repay the debt as does the primary borrower. If the primary borrower defaults, the lender can begin proceedings to collect the full amount owed plus applicable fees from the cosigner. A cosigner can be sued just as can the primary borrower. And if the primary borrower claims bankrutpcy, the cosigner will still get "stuck" with the debt. The credit report of the cosigner will be equally affected, either in a positive or negative way, depending upon the circumstances.
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.
No. The only obligation the cosigner has is to the lender.
legal rights of cosigner on mortgage
Capacity and intent of the cosigner to be bound is required.