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How do you get your name taken off of a loan you co-signed for without having to pay the transfer of ownership payment that the borrower does not want to pay?
When you co-sign that is YOUR LOAN! I am sure your banking institution made you aware of this. When one chooses to co-sign it's because the person they co-signed for cannot get a loan for one reason or the other. In over 90% of the cases the person you co-signed for does not pay off the loan. I suggest you go into your banking institution where you co-signed for that loan and make an appointment and see what they can do for you. However you handle this you will be paying out something.
What else can I help you with?
What is the difference between co signer and co borrower?
A co-borrower has an ownership interest in the property. A co-signer guarantees the repayment of the loan although they do not own the property. If the primary borrower defaults, the lender can (and will) go after the co-signer for payment. The loan will usually not show up on his credit report, unless the borrower defaults.
Will it affect your ability to get a loan if you cosigned for someone else?
Be very cautious about co-signing for a loan. If the primary borrower defaults, you are responsible for the loan payment. It also may affect your ability to get a loan if your debt to income ratio is already high.
How can I accept payment for a car?
To accept payment for a car, you can use methods like cash, check, bank transfer, or online payment services like PayPal or Venmo. Be sure to verify the payment is legitimate before transferring ownership of the car.
How can I accept payment when selling a car?
To accept payment when selling a car, you can use methods like cash, cashier's check, or a bank transfer. Be cautious of personal checks and ensure the payment is secure before transferring ownership of the car.
What are the terms and conditions of a take over car payment agreement?
A take over car payment agreement typically involves the new party taking over the existing car loan payments of the original borrower. The terms and conditions of such an agreement may vary, but generally include details about the transfer of ownership, responsibilities for maintenance and insurance, and any penalties for missed payments. It's important to carefully review and understand the terms before entering into such an agreement.
What is cosigned?
A cosigner is the person who agrees to pay off the full balance of the loan if the primary borrower fails to pay. A cosigner signs the loan documents and guarantees payment of the loan even if they have no ownership in the property covered by the loan.
What happens to the co signer if the borrower files bankruptcy?
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
What is the difference between co signer and co borrower?
A co-borrower has an ownership interest in the property. A co-signer guarantees the repayment of the loan although they do not own the property. If the primary borrower defaults, the lender can (and will) go after the co-signer for payment. The loan will usually not show up on his credit report, unless the borrower defaults.
What is the difference between sale and higher puarchase?
sale refers to the ownership of the goods will transfer at the time of agreement itself. it is to seller to buyer. higher purchase refers to the payment made by the installment bases so the ownership of the goods will transfer after the payment of last installment is called higher purchase....
Will it affect your ability to get a loan if you cosigned for someone else?
Be very cautious about co-signing for a loan. If the primary borrower defaults, you are responsible for the loan payment. It also may affect your ability to get a loan if your debt to income ratio is already high.
Does the bank need to know about a quit claim deed?
Yes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Requirements to transfer ownership of vehicle in the Philippines?
To transfer ownership of a vehicle in the Philippines, you need a few documents. You need to have a Certificate Registration and an Official Receipt showing payment, the original Deed of Sale of the vehicle, and clearance from PNP-TMG.
What is the difference between advance payment and down payment?
Down Payment: Payment, which is a loan in advance with no securities for the borrower or the buyer. Advance Payment: Payment which is connected with respective responsibilities. That means that the borrower or buyer gets some securities from the lender or vendor.
You cosigned a loan and your daughter has not paid the payment for 10 months Can you take her to small claims court to sue her for non payment?
If you made the payment, yes.
Who is typically the assignee of an absolute assignment?
Answerwhomever it is assigned to.this answer is not to the perfect solution to the question. when a borrower assigns a property to a Bank for a loan granted by the Bank, it is merely to secure the repayment of the loan released or moneys owe by the Borrower. it will not give the Bank an absolute ownership over the property assign. in other words the assignment will only evoked once and when the Borrower defaults payment due to the Bank. Besides this we must see the intentions of the Parties when the assignment is created. the Borrower has no intention to assign the property to the Bank as a conveyance item. the Borrower's intention at that time is to give the Property as a security to secure the money he received from the Bank. Lastly it is summarised that an assignment to a Bank to secure a loan will not carry an absolute assignment of ownership until the Borrower default payment due.
How can I accept payment for a car?
To accept payment for a car, you can use methods like cash, check, bank transfer, or online payment services like PayPal or Venmo. Be sure to verify the payment is legitimate before transferring ownership of the car.
Is there a penalty to pay if you sale your home after a loan modification?
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
