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You will have to refinance the debt with your creditor, and qualify for the debt on your own merit. The co-signer will have to file a Quit Claim Deed.

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16y ago

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Can a co-borrower get off the loan?

The only way for a co-borrower to get off a loan is to refinance that loan, and do not include yourself in the refinance process.


Can a co-borrower transition to become the primary borrower on a loan?

Yes, a co-borrower can typically transition to become the primary borrower on a loan by refinancing the loan in their name.


Can you have a co-signer on a home equity loan?

Yes, it is possible to have a co-signer on a home equity loan. The co-signer agrees to be responsible for the loan if the primary borrower fails to make payments.


Is the co signer the same as the co buyer?

No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.


What to do when a co-borrower is messing up your credit?

The only way to distance you from your co-borrower is to make all the payments on time or pay off the loan.

Related Questions

Can a co-borrower get off the loan?

The only way for a co-borrower to get off a loan is to refinance that loan, and do not include yourself in the refinance process.


Can a co-borrower transition to become the primary borrower on a loan?

Yes, a co-borrower can typically transition to become the primary borrower on a loan by refinancing the loan in their name.


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.


Can you have a co-signer on a home equity loan?

Yes, it is possible to have a co-signer on a home equity loan. The co-signer agrees to be responsible for the loan if the primary borrower fails to make payments.


Is the co signer the same as the co buyer?

No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.


How can you get your name off a car loan that you are co-purchaser on?

The loan must be paid off and refinanced in the primary borrower's name.


What to do when a co-borrower is messing up your credit?

The only way to distance you from your co-borrower is to make all the payments on time or pay off the loan.


Who is held responsible for the loan on a repossessed vehicle?

The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.


How can you remove your name in a car loan?

Generally, the loan must be paid off and refinanced by the co-borrower. The bank owns the loan and banks do not usually remove a name from the obligation. However, you should ask the lender.Generally, the loan must be paid off and refinanced by the co-borrower. The bank owns the loan and banks do not usually remove a name from the obligation. However, you should ask the lender.Generally, the loan must be paid off and refinanced by the co-borrower. The bank owns the loan and banks do not usually remove a name from the obligation. However, you should ask the lender.Generally, the loan must be paid off and refinanced by the co-borrower. The bank owns the loan and banks do not usually remove a name from the obligation. However, you should ask the lender.


Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?

Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.


Can the cosigner be taken off the loan if the primary borrower has made over a year of payments on time?

The only way for a co-signer to be taken off the loan, would be for the primary borrower to refinance the account.


How long before you can get a co signer off auto loan?

You remain as a co-guarantor until the loan has been repaid or refinanced in the name of the primary borrower.