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Will a bank release a cosigner after three months of pruchasing a house?
Wiki User
∙ 13y ago
If it is a small personal loan then maybe but if it is for a house, not likely, especially these days.
Wiki User
∙ 13y ago
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Is the cosigner responsible for other debts beside the item such as house rental he has cosigned for?
A cosigner is only responsible for the items that he has cosigned for.
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
Does a cosigner have any legal rights to sell your house if there has never been a missed payment or late payment?
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
What happens if you are a cosigner on a house that is being foreclosed on?
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
Can a cosigner let a lender foreclose on a house instead of making payments when the primary borrower has defaulted?
Yes, but the cosigner will still be legally responsible for any outstanding fees, penalties, deficiencies and so forth that may occur due to the foreclosure. The cosigner's credit will also be significantly damaged by the foreclosure and any other action by the lender.
If the borrower cannot make the payments but the cosigner does can the mortgage company still take the house?
Not if the cosigner has been making the payments on time. But often the cosigner doesn't know the loan is in default until it is past due 30 days or more, so if you have received two or three (depends on state laws) Right To Cure Default letters, the bank can foreclose.
If only one person in the household is working can they garnish that person's wages for a voluntary repo and can they take your house if you have equity?
Only if that person is on the contract cosigner etc. and no they cant take your house.
What happens when someone cosigns for a bond that you have to make payments on and you don't pay?
Then the cosigner is responsible for paying. most plases uses caladeral like a car or house, if the bond is not paid the car or house is taken
Can a cosigner tell you what you can and can't do in your own house?
If you want to deal drugs or grow pot - yes. If he says you can't paint the bedroom - no. You can do anything legal.
Can a cosigner of a house rental agreement be sued in Wisconsin?
They can be sued for a breach of the agreement. Co-signers are equally responsible for any default regarding a lease.
How many months did it take to build the robbie house?
2 months
