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Absolutely, just as financially obligated as the primary contract singer. As a co-signer, you agree to become financially obligated should the other party default for any reason. You don't then get the house, by the way, only the payments. That's why it's wise to NEVER be a co-signer for anyone.
What else can I help you with?
What responsibility does a cosigner on an apartment lease have?
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
Do I have to pay for a cosigner when applying for a loan?
No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
Can a cosigner remove the primary borrower from a loan agreement?
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
Is a cosigner responsible to pay credit card debt?
As long as you are a cosignor you are responsible to pay if he doesn't. Sorry, but the answer is yes. As a co-signer, you are stuck.
What responsibility does a cosigner on an apartment lease have?
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
Is a cosigner responsible for overage miles?
A cosigner is responsible for anything the primary party does not pay.
Do I have to pay for a cosigner when applying for a loan?
No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.
How can the cosigner be soley responsible for a repossesion of a car?
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
What are the qualifications of a cosigner?
Normally a cosigner has to be able to pay the loan if the signer does not pay. So the cosigner should have better credit than the person seeking the loan.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
Can a cosigner remove the primary borrower from a loan agreement?
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
Are you legally responsible to pay back the cosigner who signed for you on a rental lease?
No not unless you have an agreement that you had to pay the rent.
Is a cosigner responsible to pay credit card debt?
As long as you are a cosignor you are responsible to pay if he doesn't. Sorry, but the answer is yes. As a co-signer, you are stuck.
Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
What happens when someone cosigns for a bond that you have to make payments on and you don't pay?
Then the cosigner is responsible for paying. most plases uses caladeral like a car or house, if the bond is not paid the car or house is taken
