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If you have a fico score of 520 because of charge-offs and defaults will consistently paying your bills on time raise it?
Wiki User
∙ 18y ago
Yes, good financial behavior will always raise your score. It will take a full 7 years of perfect behavior to give you a great score (the 7 years to get all the bad stuff off your credit).
Wiki User
∙ 18y ago
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Can you get a mortgage if you have co-signed a loan?
The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.
Can your husband cosign on someone's home without your knowledge?
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
What does a person need in order to cosign for a mortgage loan?
They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.
Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Am I responsible to repay a cosigned mortgage upon default?
If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.
What if the primary signer on a loan defaults?
If the primary signer defaults the co-signer will become responsible for paying the loan.
How do you get out of being a cosigner on a bike loan?
The loan must be paid off and refinanced in the sole name of the primary borrower. Otherwise you are fully responsible for paying the loan if the primary borrower defaults or wrecks the bike.The loan must be paid off and refinanced in the sole name of the primary borrower. Otherwise you are fully responsible for paying the loan if the primary borrower defaults or wrecks the bike.The loan must be paid off and refinanced in the sole name of the primary borrower. Otherwise you are fully responsible for paying the loan if the primary borrower defaults or wrecks the bike.The loan must be paid off and refinanced in the sole name of the primary borrower. Otherwise you are fully responsible for paying the loan if the primary borrower defaults or wrecks the bike.
Is there any help available for a co signer when the student defaults on a school loan?
No. You are responsible for the debt if the primary holder is not paying their debt.
What do you do if someone defaults on paying for a car that you are selling to them you are a citizen and did not finance the car but did have them sign a contract for payment dates and amounts?
You need to sue them in civil court.
Who is held responsible for the loan on a repossessed vehicle?
The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.
Is a person who is 65-years-old and retired responsible for paying a loan they co-signed for if the owner defaults?
Yes - unfortunately when you cosign a loan - you cosigned a loan and if the owner defaults you are still responsible no matter how old you are. You could check with the lenders but wait until they contact you.
Can you get a mortgage if you have co-signed a loan?
The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.The lender will view the loan you co-signed as your debt since you are fully responsible for paying that loan if the primary borrower defaults.
Can your husband cosign on someone's home without your knowledge?
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
What does a person need in order to cosign for a mortgage loan?
They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.They need a good credit history. They also need to understand clearly that they will be fully responsible for paying the mortgage if the primary borrower defaults. Therefore they need a good enough income and steady employment to be able to pay off the mortgage on their own if necessary.
Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Can you take possession of the car if the borrower stops making payments even though they have been paying for a year?
Only if your name is on the title, and only if the primary borrower defaults and the vehicle is subject to being repossessed by the lender.
Am I responsible to repay a cosigned mortgage upon default?
If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.
