A co-signer is an additional person who signs a loan/mortgage you have taken out as a precaution for the bank or lender. Depending on the situation, if you have bad credit or not enough credit history the lender may require a co-signer.
The function of the co-signer is to pay the loan/mortgage in the event that the original person who took out the loan is unable to make the payments. Usually, the bank is looking for a co-signer with good credit as a back-up in case the loan is not paid.
A cosigner is only responsible for the items that he has cosigned for.
Yes.
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.
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.
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
Yes, you can have a cosigner for CareCredit.
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
Yes, Cosigner Finder is a legitimate service that helps individuals find a cosigner for loans or other financial agreements.
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
When agreeing to be a cosigner on a loan, the cosigner takes on the responsibility of repaying the loan if the primary borrower fails to do so. This means the cosigner is legally obligated to make payments on the loan if the borrower cannot.
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.
Yes, you can apply for CareCredit with a cosigner.