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That's what they do at the bank, if the main person does not make the payments the cosigner is responsible to take it over.

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13y ago

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What if you co-sign for a daughters car loan?

Then you are responsible for the payment if she misses a payment.


Does the lender have to notify you as a cosigner if the primary borrower fails to make a payment?

No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.


Can a foreclosure be refiled?

I'm not entirely sure what you mean, so I'm taking a stab in the dark here. It's possible for a lender to begin to foreclose on a property, decide for whatever reason (such as the debtor bringing the loan current, or reaching an agreement with the debtor to halt the process) not to complete the foreclosure, and then later go ahead and start the foreclosure again if the debtor misses additional payments or fails to comply with the terms of the agreement.


Can i be ordered to pay for college tuition for your children if you missed the court appearance?

An obligor who misses a court appearance might be ordered to pay for college tuition. If the obligee misses that appearance, it is unlikely that the court would enter such an order.


Why would a preferred stockholder want the stock to have cumulative dividend feature?

Because if the company is ever unable to make it's preferred dividend payment, the amount rolls over for the next time. The company is not allowed to pay dividends or distributions on lower classes of shares until they catch up on the back payments owed to the preferred shareholders. Some classes of preferred don't have the cumulative feature and if the company misses a payment, the payment is lost and not made up. That is why preferred stock investors look for the cumulative feature. If a company hasn't paid in a long time and you buy the shares then the company decides to pay off the back interest you get all the past payments that are owed on the shares even though you just bought them, though after a while of non-payment it is not likely the company will ever catch up and will end up going belly up instead.