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What responsibilities does the cosigner have when agreeing to be a cosigner on a loan?
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.
Do I have to pay for a cosigner when applying for a loan?
No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.
Can a minor obtain a loan with a cosigner?
Yes, a minor can obtain a loan with a cosigner, as the cosigner takes on the responsibility of repaying the loan if the minor fails to do so.
Can you get a cosigner for a home equity loan?
Yes, you can have a cosigner for a home equity loan. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. Having a cosigner can help you qualify for a loan or get a lower interest rate.
Can you have a cosigner on a home equity loan?
Yes, it is possible to have a cosigner on a home equity loan. The cosigner agrees to be responsible for the loan if the primary borrower fails to make payments.
What responsibilities does the cosigner have when agreeing to be a cosigner on a loan?
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.
Who has control of company vehicles with a cosigner?
Control in what sense? Sell them, transfer title? The cosigner guarantee's the loan on the vehicles and would need to agree to selling them and sign the title. You can use them for any purpose, do anything with them including burning them. You will still be responsible for the loan and if not you the cosigner will have to pay the loan off.
Do I have to pay for a cosigner when applying for a loan?
No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.
Can a minor obtain a loan with a cosigner?
Yes, a minor can obtain a loan with a cosigner, as the cosigner takes on the responsibility of repaying the loan if the minor fails to do so.
Can you get a cosigner for a home equity loan?
Yes, you can have a cosigner for a home equity loan. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. Having a cosigner can help you qualify for a loan or get a lower interest rate.
Can you sue loan company for using minor as a cosigner?
A minor cannot enter into a legal contract. Any loan they are a party to is invalid.
Is a cosigner liable for the balance of a repossessed vehicle if the loan company auctioned it without notifying them?
READ your contract you signed. Call a local attorney for state specific legal advice.
Can you have a cosigner on a home equity loan?
Yes, it is possible to have a cosigner on a home equity loan. The cosigner agrees to be responsible for the loan if the primary borrower fails to make payments.
What is the process for getting a cosigner for a loan or lease agreement?
To get a cosigner for a loan or lease agreement, you need to find someone with good credit and income who is willing to sign the agreement with you. The cosigner is responsible for the debt if you are unable to pay. The lender or leasing company will typically require the cosigner to fill out an application and provide financial information.
Can you switch the cosigner to the primary?
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
If a borrower signed a loan for a cosigner is there a way the loan can be changed into the cosigner's name without refinancing?
No.
How can a cosigner be removed from the loan?
The only option is for the loan to be refinanced without the particpation of the present cosigner.
