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Is it possible to be a co-signer on a mobile home loan if you already own a home of your own?
Wiki User
∙ 11y ago
It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.
It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.
It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.
It's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIt's up to the lender whether the co-signer can be approved. If the co-signer can afford to pay for the mobile home in addition to paying for their own home they will likely be approved. The co-signed loan will appear as an outstanding debt on the co-signer's credit record since the co-signer on any loan is fully responsible for paying the loan balance if the primary borrower stops paying. If you are willing to guarantee repayment of the loan and have enough income then you can co-sign.
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If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Can you buy a home after foreclosure with a cosigner?
Yes. And you may be able to buy it without a co-signer.
Can a cosigner of a home loan receive half of the proceeds?
Did you help make payments? If all you did is to cosign, then no.
Can a cosigner be affected on a home foreclosure?
Yes. It is a common misconception that cosigners are not responsible for the debt of the primary on the account they signed. I'm not sure how that started, or why it persists, but cosigners, comakers, coguarantors, and cobuyers are equally responsible for the debt they sign with the primary. Collections agencies will not waste a lot of time trying to get a primary to pay when there is a cosigner who is easier to locate. And, because both are equally responsible, there is no need to even try to get the primary who is not paying to do what they are already not doing when the contract was written based on the better credit of the cosigner.
Can a loan company place a lien on a cosigner's home?
They cant legally "threaten" to do do anything that they cant legally do, so the answer is YES, they can attach your home.
How do you fix a mobile home?
Fix WHAT - there are thousands of possible repairs
Can a lender call the home number of a cosigner in order to verify the information of the cosigner?
YES!
Can I get a mobile home loan with bad credit?
No it's not possible to get mobile home loan with bad credit.But it can be checked also by making loan application safely and securely for the best rates possible.
What is a mobile home?
A mobile home is a large unit pre-built in a factory and taken on wheels to a site. That is the only sense that it is "mobile". - It is possible, but not easy to put them on wheels and move them.
Can the cosigner sell the home if payments are not being made?
Absolutely not!
How expensive is it to move a mobile home?
The costs to move a mobile home depends on the size, permits, fees, insurance, the state you are in and how far you are moving it. The lowest possible price would be around $2000.
Can a mobile home be added onto an existing home?
Anything is possible. Just make sure it is done according to local codes.
What is a mobile home grant?
what is a mobile home grant?
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
What is the mobile home called?
Unless you've picked a personal name for it, a Mobile home is just a Mobile home .
Mobile home one word or two?
mobile home
Are you allowed tq remove your mobile home from a park?
If you own the mobile home, then you have the right to remove it from the mobile home park, unless you are in a lease agreement between you and the mobile home park.
