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Generally, you can't make a co borrower refinance. That must be voluntary. You are responsible for the loan until it is paid off.
If there is a divorce the parties can negotiate concerning a mutual loan and the divorce decree can contain a provision that the loan be refinanced.
Generally, you can't make a co borrower refinance. That must be voluntary. You are responsible for the loan until it is paid off.
If there is a divorce the parties can negotiate concerning a mutual loan and the divorce decree can contain a provision that the loan be refinanced.
Generally, you can't make a co borrower refinance. That must be voluntary. You are responsible for the loan until it is paid off.
If there is a divorce the parties can negotiate concerning a mutual loan and the divorce decree can contain a provision that the loan be refinanced.
Generally, you can't make a co borrower refinance. That must be voluntary. You are responsible for the loan until it is paid off.
If there is a divorce the parties can negotiate concerning a mutual loan and the divorce decree can contain a provision that the loan be refinanced.
What else can I help you with?
Can a cosigner become the primary borrower on a loan?
No, a cosigner cannot become the primary borrower on a loan. The cosigner's role is to provide a guarantee for the loan in case the primary borrower fails to make payments.
Why might one refinance a home loan or mortgage loan?
Someone might refinance a home or mortgage loan to take money off of the equity they have in the house in order to make improvements that will increase the value of the home. Another reason could be another investment that would make taking money out on the equity in the home worth it.
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.
When the sole borrower on a mortgage dies can his wife continue to make the payments?
In most cases YES. Even though the wife isn't on the loan, she is probably on the deed, which means she has vested interest in the property. The only case in which it may be an issue is if the loan is a FHA Loan and she is not on the title, in which case she would need to refinance the property into her name.
Can you refinance an auto loan before a year?
yes - you can refinance an auto loan at any time. You will want to make sure you current bank does not charge a prepayment penalty though.
How can i make someone refinance a loan to take me off as a co-borrower?
You cannot "make" anybody else do anything they do not wish to do. About all you can do is "suggest" that they refinance ... until then, you are just as liable for the debt, and there is little that can be done without taking the other person to court.
What takes places in the process of automobile refinancing?
In the process of automobile refinancing, what happens is that the borrower takes out another loan, which typically has a lower interest rate. When you refinance a car, you need to make sure you are current on your loan.
Can a cosigner become the primary borrower on a loan?
No, a cosigner cannot become the primary borrower on a loan. The cosigner's role is to provide a guarantee for the loan in case the primary borrower fails to make payments.
Can a co-signer make a primary signer refinance?
No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.
Why might one refinance a home loan or mortgage loan?
Someone might refinance a home or mortgage loan to take money off of the equity they have in the house in order to make improvements that will increase the value of the home. Another reason could be another investment that would make taking money out on the equity in the home worth it.
Refinance Your Mortgage For Less?
A mortgage is a contract between a homeowner and a lender. The lender finances the purchase of the home, and in return, the borrower must repay them over a period of time. In banking parlance, the lender amortizes the loan, usually over fifteen or thirty years. Part of the amortization process is determining what the interest rate on the loan will be. The interest rate applied to the amortized loan balance tells the borrower what their monthly payment will be. If the borrower gets into financial difficulty and cannot make the payments under their current interest rate, they can refinance their loan. Refinancing simply means that their loan is replaced by a loan with a lower interest rate. This can extend the life of the loan. Generally speaking, the homeowner pays off the interest first and the principal second. If they refinance their loan, this will reset all the interest payments they have already made, and they will have to start over from scratch. Even with this downside, they may still save money with the lower interest rate.
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.
When the sole borrower on a mortgage dies can his wife continue to make the payments?
In most cases YES. Even though the wife isn't on the loan, she is probably on the deed, which means she has vested interest in the property. The only case in which it may be an issue is if the loan is a FHA Loan and she is not on the title, in which case she would need to refinance the property into her name.
Can you refinance an auto loan before a year?
yes - you can refinance an auto loan at any time. You will want to make sure you current bank does not charge a prepayment penalty though.
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.
What is required when one wants to refinance their home mortgage loan?
To refinance one's home mortgage loan, one needs to make sure their loan is not in default. Loaners will also need to meet specific financial thresholds.
Can a cosigner take over a car loan if the primary borrower is unable to make payments?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. This means the cosigner becomes responsible for making the payments on the loan.
