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a co-signer hass the responseablility of being what is basicly a partner in the loan or what ever you are co-singing if it is a loan and you fail to make the payment on time they're credit score goes down
Normally, the cosigner is and can be called the co-borrower...and has all the same obligations as the primary. (However, they may not have all the same benefits, like possession, or title to sell).
The absolute best and simplest way to see exactly what yours are, (which you should have been aware of before you participated), is to read the specific loan agreement you signed! It's all defined there. If you didn't keep a copy, most lenders will provide you one, albeit they may need a formal request and confirmation of who you are before disclosing this confidential document.
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Can a cosignor take the interest paid on a student loan as a tax deduction?
no
How do you get a loan without a cosignor?
I am in college my mom defaulted on bankruptcy how can I get a loan to go to school?
If the cosigner dies can she simply be dropped as cosigner without refinancing or is the property part of her estate and must go into secession?
Dropped as cosignor??? NO NO NO. You NEEDED a cosignor to get the loan rem? Unless your credit has improved greatly since then, you still need one. Dropping cosignors from loans is STRICTLY up to the LENDER who makes the loan.
Is a cosigner responsible to pay credit card debt?
As long as you are a cosignor you are responsible to pay if he doesn't. Sorry, but the answer is yes. As a co-signer, you are stuck.
Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
Can I get a home loan if I have bad credit?
It is tough to get a home loan with bad credit, however you may be able to get a home loan with a higher interest rate. It will also be easier if you can find a cosignor.
Does any bank give out a home loan even if you have bad credit?
Banks are very strict right now on who they will give credit to. If you have pretty bad credit they will probably not give out a home loan unless you have a cosignor.
If your repossessed car is worth about 6000 and you owe approximately 25000 can your pay check be garnished for the balance after the car is sold?
In most states, YES. The lender can garnishee the signor AND cosignor wages and/or attach other personal property.
Is responsibility for a child's education a family responsibility or a societal responsibility?
It is a social responsibility
If a Cosigner pays all of the the Home Equity Loan monthly payments does the Primary Signatory then get to claim the tax deduction on the interest paid or does the Cosignatory get such tax deduction?
You cannot claim a deduction for something you did not pay. If the primary signatory did not pay the interest, then this person does not get to deduct it. In order to claim a non-business/non-investment deduction for interest, the person claiming the deduction must (among other things) be the legal or equitable owner of the property. Usually, the cosignor is not the legal or equitable owner of the property, hence the cosignor cannot claim an interest deduction.
Which type of responsibility relates to a formal assignment of property responsibility to soldiers?
Types of responsibility to a formal assignment responsibility to soldiers are supervisory, direct and custodial responsibility. Also there is direct responsibility.
What are the different types of responsibility centers?
what are responsibility centres, functions of responsibility centers and types of responsibility centers.
