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What happens to parent plus loans in the event of the borrower's death?
In the event of the borrower's death, Parent PLUS loans are typically discharged, meaning the remaining balance is forgiven and the responsibility for repayment does not pass on to the borrower's estate or family members.
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 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.
What are borrower?
Borrower is a person who borrow something. It is a common defination.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
What happens to parent plus loans in the event of the borrower's death?
In the event of the borrower's death, Parent PLUS loans are typically discharged, meaning the remaining balance is forgiven and the responsibility for repayment does not pass on to the borrower's estate or family members.
Can a mortgage borrower apply for court foreclosure?
No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.
Who owns a mortgaged property?
A mortgaged property is owned by the borrower, who holds the title to the property. However, the mortgage lender has a secured interest in the property until the loan is fully paid off, meaning they can foreclose on it if the borrower defaults on the mortgage payments. Essentially, the borrower retains ownership rights, but those rights are encumbered by the lender's financial interest.
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 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.
What are borrower?
Borrower is a person who borrow something. It is a common defination.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Can a co borrower sell car without borrower consent?
no
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.
What is ordinary time in simple interest?
Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.
What is the borrower failed to pay is co borrower liable for it?
Yes. Completely.
When was The Borrower created?
The Borrowers was created in 1952.
