Auto Loans and Financing
If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
Asked in Loans, Co-signing, Mortgages, Money Management
Does a cosigner on a mortgage mean that person is an owner of the property?
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Asked in Repossession, Loans, Co-signing
What if that person refuse to refinance the car in there name so the other person can get off the loan?
The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid. The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid. The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid. The co-signer cannot force the primary borrower to refinance. They must wait it out until the loan is paid.
Does a co-signer have the right to take away the car or ask for you to refinance only in your name because you broke up?
Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.
Asked in Loans, Co-signing, Mortgages
Do you need your cosigner to sign when you refinance?
If you need a cosigner they must sign because a co-signer is a person who accepts responsibility for repayment of a loan, credit card or other debt along with the original borrower. However, if the institution giving you the new loan doesn't require a cosigner, you don't need to have the cosigner on your original loan sign anything.
What is a cosigner?
Does the cosigner have to drive the car?
What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
Does a cosigner have to have a good credit rating to cosign?
Can you be a co-signer with no job?
You can, but the more likely scenario is that you will be listed as the primary and the person who can pay will be the cosigner to secure the loan. If you are hoping to secure the loan for another party as their cosigner, it is not likely to happen. Unless you are fabulously wealthy, and can provide evidence of this to the lender, you will not be accepted as a cosigner.
Asked in Apartments and Home Rentals
What responsibility does a cosigner on an apartment lease have?
Asked in Vehicle Titles, Repossession, Co-signing
Is the buyer still responsible for buying a vehicle if the cosigner refuses to sign?
If the cosigner decides to pay off the loan to clear their property used for collateral can they put a judgment on the primary loan holder to collect the amount paid off?
Asked in Mortgages
Every person should refinance their mortgage after five years.?
Asked in Personal Finance, Loans, Mortgages
If we have bad credit will a cosigner help us get a mortgage?
Asked in Law & Legal Issues
Can a person take a car out of state without permission of cosigner?
No they can not because then the cosinger can report te car being stolen. YES YOU CAN AS LONG AS YOU ARE THE PRIMARY OWNER OF THE VEHICLE. THE COSIGNER IS JUST A PERSON WHO HAS MADE AN AGREEMENT WITH THE BANK THAT IF FOR SOME REASON YOU SHOULD DEFAULT ON THE LOAN THE BANK CAN PURSUE THE COSIGNER. BECAUSE THE COSIGNER PRESUMABLY HAS BETTER CREDIT AND STRONGER WORK HISTORY, THUS THE ABILITY TO REPAY THE LOAN. OF COURSE YOU HAVE TO BE OF AGE AND FOLLOW ALL OF THE LAWS WHEN DRIVING.
Is it easier for a person with poor credit to refinance their house with the help of a cosigner who has excellent credit?
It can be easier if you use their credit by putting them on title on the home and use there credit, however they will be responsible for the loan and be on title as at least a part owner. If you use another persons credit to do a refinance, the other person must in most title states be put on title and will be responible for the loan even if you both sign which you would have to do.
Asked in Vehicle Titles, Co-signing
How can you be a cosigner if the title is in the name of the person you cosigned for?
Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.
Is it better for a person considering cosigning on an auto loan to be a co-buyer versus cosigner?
If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?
Asked in Vehicle Titles, Repossession, Co-signing
Can a person remove their name as a cosigner for a vehicle?
No, the primary borrower would need to refinance the vehicle in their name only or with a different co-signer. Person's who agree to being a co-signer usually do so with good intentions of helping out family members or friends. Unfortunately it often turns out badly with the co-signer getting "stuck" with the debt and problems with their personal credit.
Asked in Co-signing, Skype, Horse Tack
Can a cosigner sign for one person at one place and also sign for someone different at another?
Yes. Be aware that the cosigner is the person whom the bank will go after 2nd if the primary signer defaults on payment. If this person cannot afford to have 2 different banks come after them, then they should not sign on 2 loans. So hopefully this consigner trusts both people to make their payments.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.