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In most cases the co-signer is in fact the borrower. I would think as long as you make the payments on time the lender will be o.k. with it, they usually want the money not the collateral back. I would read the finance contract(yes all the small print) there should be something stipulating the conditions for "due on demand". Hope thishelps.
What else can I help you with?
Does a mortgage cosigner have to be a relative?
No, you do not have to be related. you are signing a binding contract agreeing that both of you are responsible for the payments for that mortgage loan. You will both have to provide all the information- taxes, income, debts, assets, etc. Just be careful who you are getting yourself stuck with for 30 years. :)
Bank has charged off on my loan what is next?
They will repossess then will sell in a private auction if they do not get what is owed on the property you will have to pay the remainder balance. Trust me going through that one right now guess that is what i get for being a nice relative and co-signing on a loan for a car.
How risky is it to co sign a mortgage for a relative?
It depends on how dependable the relative is, but generally it is *incredibly* risky. If your relative can't make the payments for some reason, then you are responsible for paying that mortgage. If you don't pay, then it will show up on your credit report, and that can hurt you financially. Plus, if the house goes into default or sells for less than you owe, the mortgage company can ask for a judgment against you, and you will hav to pay the difference. It is just as risky as buying a house for yourself, with fewer benefits. However, if your relative is a responsible person that you trust, then it is a very nice thing to do. If your relative makes the payments on time and works up his or her credit, then he or she might be able to refinance the home without you having to co-sign in the future. ... But they might have the option of buying a house now without your signature, just a smaller house.
Can you deduct interest from a personal loan taken for a down payment on a home?
You cannot borrow money for a down payment on a house, the only exception is if the loan is secured against an asset, like 401 k, borrowing against a vehicle that's paid for, from relative or friends When the bank loans money for a house, they've calculated that you won't be able to pay back your loan if you take on more debt, and borrowing the down payment is additional debt. If payments aren't made and they have to repossess the house to sell, often it sells for less than it's worth. So they can sell quickly, and a down payment prevents them from having a loss.
How composition of deposits changed in recent years?
There has been a shift in the public's holdings of deposits toward greater relative proportions of the highest-yielding time deposits and toward hybrid accounts that maximize depositor returns, while still giving them access to deposited funds to make payments
Do I Need A Cosigner To Get A Business Loan?
In case your cosigner has an excellent credit score and is a relative or closely affiliated with your business, this can help you qualify for a business loan.
Does a cosigner need to be a relative of the borrower?
If the lender requires it. They don't always, but it is sometimes preferred.
Does a mortgage cosigner have to be a relative?
No, you do not have to be related. you are signing a binding contract agreeing that both of you are responsible for the payments for that mortgage loan. You will both have to provide all the information- taxes, income, debts, assets, etc. Just be careful who you are getting yourself stuck with for 30 years. :)
Can you tak a loan for your study?
Yes. If you are under 18 you will need a cosigner. This could be your parent or another relative with good credit.
Do You need a cosigner if your married?
Having a cosigner has nothing to do with your marital status. It's all about your credit. If you do need a cosigner for lets say a car loan, then it's better to have your spouse sign than ask a relative/friend to sign. Unless your spouses' credit is bad, then you have to look into a person who has good credit. Hope this helps!
Do you get money for equal payments for each child in foster care even if they are a relative?
no
Bank has charged off on my loan what is next?
They will repossess then will sell in a private auction if they do not get what is owed on the property you will have to pay the remainder balance. Trust me going through that one right now guess that is what i get for being a nice relative and co-signing on a loan for a car.
How risky is it to co sign a mortgage for a relative?
It depends on how dependable the relative is, but generally it is *incredibly* risky. If your relative can't make the payments for some reason, then you are responsible for paying that mortgage. If you don't pay, then it will show up on your credit report, and that can hurt you financially. Plus, if the house goes into default or sells for less than you owe, the mortgage company can ask for a judgment against you, and you will hav to pay the difference. It is just as risky as buying a house for yourself, with fewer benefits. However, if your relative is a responsible person that you trust, then it is a very nice thing to do. If your relative makes the payments on time and works up his or her credit, then he or she might be able to refinance the home without you having to co-sign in the future. ... But they might have the option of buying a house now without your signature, just a smaller house.
Do you need to carry insurance on a car you own but let a non-household relative make payments on and drive?
If your name is on it, you need insurance to protect yourself, otherwise you will be held personally liable for any damages the vehicle does.
When copying or moving formulas in an Excel worksheet the default type of cell reference is called?
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What occurs when any two objects change position relative to each other?
when two bodies change their positions with time, it's termed as motion and if the motion continues it may begin to have velocity,acceleration etc
A cell reference of B17 is?
It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.It is a relative cell reference.
