A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
You can, but the more likely scenario is that you will be listed as the primary and the person who can pay will be the cosigner to secure the loan. If you are hoping to secure the loan for another party as their cosigner, it is not likely to happen. Unless you are fabulously wealthy, and can provide evidence of this to the lender, you will not be accepted as a cosigner.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
Very generally speaking, in the U.S. a person is not liable for any other person's debt, unless that person is a cosigner on a loan or something.
to do something they don't want to for another person
when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan
a cosigner is someone that also signs a note, meaning that if the original signer dose not pay the obligation the second signer or cosigner must pay. It means, if the person getting the loan does not pay it off, the cosigner is responsible for paying the loan off.
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
That depends on the lending institution, but most lenders will accept an out of state cosigner as long as the person qualifies.
Yes. Be aware that the cosigner is the person whom the bank will go after 2nd if the primary signer defaults on payment. If this person cannot afford to have 2 different banks come after them, then they should not sign on 2 loans. So hopefully this consigner trusts both people to make their payments.
Yes..... I did
A cosigner is the person who agrees to pay off the full balance of the loan if the primary borrower fails to pay. A cosigner signs the loan documents and guarantees payment of the loan even if they have no ownership in the property covered by the loan.
No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.
If a lender does not feel comfortable with what they perceive as your ability to repay a loan they may ask that you get a cosigner. The cosigner is a person who would be guaranteeing the loan repayment if you were to default.
An heirloom is something handed down from a person in one generation to a person in a later generation.
An allocator is a person who allocates something to someone, or a condition by which something is allocated to someone.
Yes, that is the main purpose of having a cosigner. The person is accepting equal resposibility for repayment of the debt if the primary borrower should default. Therefore a cosigner needs to the have acceptable financial status as required by the lender.
"where have you been" is something a person would ask another person after they have returned from a place unknown to the asker. "where have you gone" is something a person would ask another person while they are in an unknown place and have not yet returned.
Proposal from a person to another to distribute something.