0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Does co-buyer mean the same as co-signer or is it just to show how much income is in the home?
No. A co-buyer owns part of the property, how much a portion depends on how the title is worded. A cosigner is pledging equal responsibiliy for the debt if the primary borrower defaults on the loan. Even if the primary borrower declares bankruptcy the cosigner might still be responsible for a portion or all of the debt.
Can you buy a home with a co-signer who has a higher ratio or assets?
Yes, you should have your loan officer check what your interest rate would be with a cosigner and without. If the cosigner has a lot of debt and not very high income it might be better not to put them on the loan.
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 lender call the home number of a cosigner in order to verify the information of the cosigner?
YES!
Does co-buyer mean the same as co-signer or is it just to show how much income is in the home?
No. A co-buyer owns part of the property, how much a portion depends on how the title is worded. A cosigner is pledging equal responsibiliy for the debt if the primary borrower defaults on the loan. Even if the primary borrower declares bankruptcy the cosigner might still be responsible for a portion or all of the debt.
Can the cosigner sell the home if payments are not being made?
Absolutely not!
Can you buy a home with a co-signer who has a higher ratio or assets?
Yes, you should have your loan officer check what your interest rate would be with a cosigner and without. If the cosigner has a lot of debt and not very high income it might be better not to put them on the loan.
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.
If you helped your mother get a home and her name is on the deed but yours is on the note and she has been missing payments is there an easy way out?
The only option to be removed as a cosigner is to have the secured property refinanced without the cosigner being involved.
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.
Father-in-law died and left a home to split between 5 children Can I file for divorce in NJ and claim a portion of my husbands estate in the West Indies Am I entitled to half of my husbands share?
No. An inheritance is not considered joint property, so you are not entitled to any portion of your husband's share of his inheritance.
How do you split a security deposit If a married couple with one child and one other adult occupant are renting a home how should you split the security deposit 3 or 4 ways?
Unless the child has a job, I would say 3 ways. It should only be split between tax paying adults.
To split table cells click the split cells button on the?
Home Tab
