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Who is the person that agrees to take responsibility for repayment of a loan if the borrower defaults?
Wiki User
∙ 12y ago
The co-signer.
Wiki User
∙ 12y ago
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What is an individual who agrees to repay a loan or consumer debt if the borrower defaults?
Co-Signer
Reverse repo rate?
A Repurchase agreement (also known as a repo or Sale and Repurchase Agreement) allows a borrower to use a financial security as collateral for a cash loan at a fixed rate of interest. In a repo, the borrower agrees to sell immediately a security to a lender and also agrees to buy the same security from the lender at a fixed price at some later date. A repo is equivalent to a cash transaction combined with a forward contract. The cash transaction results in transfer of money to the borrower in exchange for legal transfer of the security to the lender, while the forward contract ensures repayment of the loan to the lender and return of the collateral of the borrower. The difference between the forward price and the spot price is the interest on the loan while the settlement date of the forward contract is the maturity date of the loan.
What is loan?
Loan is an amount of money advanced to a borrower, to be repaid at a later date, usually with interest. legally, a loan is a contrat between a buyer (the borrower) and a seller (the lender), enforceable under the Uniform Commercial Code in most states. The terms and conditions for repayment of a loan, including the finance charge or interest rate, are specified in a loan agreement. a loan may be payable on demand (a Demand Loan), in equal monthly installments (an installments loan) It is also define as when a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the borrowed money, along with interest, at a predetermined date in the furture.
What is a grantor on a loan?
A guarantor is the person who agrees to pay on a debt of someone else if the person who guaranteed to pay defaults on the loan. A guarantor is a type of co-signer for the loan.
What is meant by equity credit lines?
A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term) where the collateral is the borrower's equity in his or her house.
Who is the person that agrees to take responsibility for repayment of a loan if the primary borrower defaults?
Cosigner
What is an individual who agrees to repay a loan or consumer debt if the borrower defaults?
Co-Signer
Can a co-borrower be removed with a loan modification?
If the lender agrees to it.
Personal loan agreement?
A personal loan agreement is signed document signed by two parties; the borrower and the lender. The borrower agrees to pay the loan to the lender along with an agreed upon interest rate and the lender agrees to pay the borrower an agreed upon amount of money. Here is a very basic loan agreement, this does not include collateral. This is only for an unsecured personal loan agreement. Secured loan agreements carry more detail do to the sensitive nature and wording that is required in the event that the borrower defaults and the lender needs to settle in court. Any agreement signed by both parties should be notarized by a third party to bare as witness. PERSONAL LOAN AGREEMENT FORM BORROWER _Brian W Conger LENDER _Allen Grundvig DATE LOAN IS MADE _November 08, 2012 PLACE WHERE LOAN IS MADE _752 Main Ave N, Twin Falls, Id 83301 AMOUNT OF LOAN $ 900.00 AMOUNT OF INTEREST $200.00 LOAN REPAYMENT SCHEDULE Payment of $100.00 due on the 10th of the Month AGREEMENT: BORROWER AND LENDER BOTH AGREE TO THE TERMS AS DESCRIBED ABOVE. SIGNATURE OF BORROWER _________________________________ SIGNATURE OF LENDER ____________________________________ THIS AGREEMENT IS NOW IN FORCE!
Why should husband and wife both sign a mortgage?
Who signs a mortgage is not determined by marital status. The persons who own the property as grantees in the deed must sign the mortgage. In the case where only one owns the property some lenders require the other party to sign. In that case, by signing, a non-owner agrees to be fully responsible for paying the mortgage if the primary borrower defaults although they do not own the property.Who signs a mortgage is not determined by marital status. The persons who own the property as grantees in the deed must sign the mortgage. In the case where only one owns the property some lenders require the other party to sign. In that case, by signing, a non-owner agrees to be fully responsible for paying the mortgage if the primary borrower defaults although they do not own the property.Who signs a mortgage is not determined by marital status. The persons who own the property as grantees in the deed must sign the mortgage. In the case where only one owns the property some lenders require the other party to sign. In that case, by signing, a non-owner agrees to be fully responsible for paying the mortgage if the primary borrower defaults although they do not own the property.Who signs a mortgage is not determined by marital status. The persons who own the property as grantees in the deed must sign the mortgage. In the case where only one owns the property some lenders require the other party to sign. In that case, by signing, a non-owner agrees to be fully responsible for paying the mortgage if the primary borrower defaults although they do not own the property.
Reverse repo rate?
A Repurchase agreement (also known as a repo or Sale and Repurchase Agreement) allows a borrower to use a financial security as collateral for a cash loan at a fixed rate of interest. In a repo, the borrower agrees to sell immediately a security to a lender and also agrees to buy the same security from the lender at a fixed price at some later date. A repo is equivalent to a cash transaction combined with a forward contract. The cash transaction results in transfer of money to the borrower in exchange for legal transfer of the security to the lender, while the forward contract ensures repayment of the loan to the lender and return of the collateral of the borrower. The difference between the forward price and the spot price is the interest on the loan while the settlement date of the forward contract is the maturity date of the loan.
When the borrower agrees to a voluntary repossession but their mother contests the action is that a wrongful act of repossession?
No, if the vehicle is subject to repossession due to a default in the lending agreement, it is irrelevant whether or not the parent agrees to the action.
What is loan?
Loan is an amount of money advanced to a borrower, to be repaid at a later date, usually with interest. legally, a loan is a contrat between a buyer (the borrower) and a seller (the lender), enforceable under the Uniform Commercial Code in most states. The terms and conditions for repayment of a loan, including the finance charge or interest rate, are specified in a loan agreement. a loan may be payable on demand (a Demand Loan), in equal monthly installments (an installments loan) It is also define as when a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the borrowed money, along with interest, at a predetermined date in the furture.
Can you reinstate an auto loan after repossession in the state of Washington?
If the lender agrees, yes. The matter is entirely up to the lender because the borrower is in default.
Is a co borrower the same as a co purchaser?
No. They are not interchangeable.Two people who buy an item are co-purchasers and also co-owners.Two people who sign a note to borrow money to pay for the item are co-borrowers. A co-borrower is not necessarily a co-owner. A co-borrower could be someone who agrees to help the purchaser obtain financing to purchase the item.No. They are not interchangeable.Two people who buy an item are co-purchasers and also co-owners.Two people who sign a note to borrow money to pay for the item are co-borrowers. A co-borrower is not necessarily a co-owner. A co-borrower could be someone who agrees to help the purchaser obtain financing to purchase the item.No. They are not interchangeable.Two people who buy an item are co-purchasers and also co-owners.Two people who sign a note to borrow money to pay for the item are co-borrowers. A co-borrower is not necessarily a co-owner. A co-borrower could be someone who agrees to help the purchaser obtain financing to purchase the item.No. They are not interchangeable.Two people who buy an item are co-purchasers and also co-owners.Two people who sign a note to borrow money to pay for the item are co-borrowers. A co-borrower is not necessarily a co-owner. A co-borrower could be someone who agrees to help the purchaser obtain financing to purchase the item.
What is a consent judgment in a foreclosure?
A consent judgment in a foreclosure is whereby a borrower with a pending foreclosure agrees to get into a judgment for foreclosure. This will not require further legal representation.
Did UNOCAL agrees that it shares responsibility with the Burmese army over treatment of pipeline citizens?
false
