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If you get someone to co-sign on a mortgage who then receives the benefit such as an improved credit score from paying the mortgage on time?
Wiki User
∙ 15y ago
Both of the people who sign for the loan will get credit for good or bad. It may help the bad and then it could hurt the good if payments are not paid on time. ------------------------------------------------------ Small Improvement... Yes they receive the credit score boost assuming a good payment history and I'm assuming from the question the desire would be after an improved score the co-borrower would want to buy a house of their own. If this is the direction of the original question...a problem could occur. The mortgage payment of the "credit improving" mortgage will "count against" them in the debt ratio qualifying process should they apply for any loan in the future. This could negate all the credit benefit since rarely in America can one get approved for 2 house payments. There are ways around this, but be sure to discuss this with a qualified mortgage professional before assuming this is the best way. ------------------------------------------------------------------------
Wiki User
∙ 15y ago
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Where can someone locate loan mortgage calculators online?
BankRate, PNCMortgage, Interest and MortgageCalculator offer a free mortgage calculator. Mortgage rates are considered to be improved to their highest in 14 months.
Is there a way for someone to compare different mortgage quotes side by side?
The best place to compare different mortgage quotes would be to bring any mortgage offers you have to a Mortgage Network. Even if you are just looking to buy, they can gather all the information up and teach you about different offers and how they will benefit you.
How can someone benefit from a green mortgage?
With a green mortgage you can benefit of for example a lower loan fee, is you have an environment friendly house. Also they can give you a bigger loan than normal if you want to invest it in buying an environment friendly house or want to make an existing house more green.
Can someone who is 90 years old get a mortgage?
It is possible for a 90-year-old to get a mortgage, but it may be challenging due to factors such as income limitations, credit history, and ability to repay the loan. Lenders may also consider the borrower's remaining life expectancy and may require a co-signer or larger down payment.
How do you get your name removed from the church mortgage loan?
Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name.
Who benefit from reverse mortgage?
{| |- | A reverse mortgage provides unique benefits for its target market: someone over 62 who lives in his/her primary residence, who has substantial equity in his/her home, and who has little or no income. A reverse mortgage is a loan against the equity in your home that you don't need to pay back for as long as you live in the home. |}
What are some tips that could benefit people looking to refinance their homes?
When someone wants to refinance their homes, one should talk to their mortgage company, financial banking expert for more tips, one might use the mortgage calculator as well.
Where can someone find a mortgage adjuster?
A mortgage adjuster is someone who services current mortgages. One can hire such a person via the company they have a mortgage with be it Nationwide or Halifax etc.
How can someone be taken off a mortgage?
The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.The only way to get someone's name off a mortgage is to pay it off and refinance if necessary.
If someone died intestate but you know house was bought as tenants in common because they did NOT want their common law partner to benefit how do you find out if the mortgage insurance paid?
You'd have to get that information from the mortgagee.
What is a bank account beneficiary?
A beneficiary is the person who receives the benefit (usually money) from an insurance policy or a trust.
Can someone on disability cosign a mortgage loan?
You need to ask a mortgage agent.
