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What is the maximum number of cosigners allowed on a mortgage?
The maximum number of cosigners allowed on a mortgage typically depends on the lender's policies, but it is usually limited to two cosigners.
If the primary lender loan discovers that the cosigners signature was forged can the primary repo the vehicle no matter what the time of discovery?
If the signature was not only forged but done without the knowledge of the person, the party involve has a bigger problem than a "repo". Be that as it may, the agreement was made fraudulently and the lender has the right to reposession and recovery of expenses, by whatever means necessary.
If cosigner pays off a defaulted loan is there a way to have a repossession removed from cosigners credit?
The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
Can the cosigners spouse get charged?
YES the lender can garnishee the co-signor (NOT co-signors spouse) as well as the signor. Just as the lender CANT garnishee your spouses wages. ONLY those signors of the contract are subject to any collection activities.
What are the benefits of having online cosigners for a loan application?
Having online cosigners for a loan application can increase the chances of approval, as it provides additional assurance to the lender that the loan will be repaid. It can also help secure a lower interest rate and better loan terms. Additionally, online cosigners make the application process more convenient and efficient, as it can be done remotely without the need for in-person meetings.
If you are in Foreclosure with a Sheriff sale pending can the lender transfer your loan to a different lender?
In Texas they can.
Does a quitclaim affect the mortgage?
Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
Is it possible to transfer car finance to someone else?
Yes, if the lender holding the lien agrees. Talk to the lender.
Is there a grace period for cosigners to make a payment once they are notified of the primary borrower's failure to make one?
It's possible but not a common practice. It would be at the discretion of the lender,or maybe included in the financial agreement.
Can I transfer my mortgage to another property in the USA?
Yes, it is possible to transfer your mortgage to another property in the USA through a process called mortgage assumption or mortgage transfer. This involves the new property meeting the lender's requirements and the approval of the lender.
Can you have 2 cosigners on a mortgage?
Yes, it is possible to have two cosigners on a mortgage. Having multiple cosigners can help strengthen the application and increase the chances of approval, as it shows additional financial support and responsibility.
What to do if a person forged a cosigners signature on a car loan are they still responsible?
It's fraud, and obtaining money or goods under false pretenses, and forgery. In other words, a crime. The dealer or lender should have verified ID before they let just anyone sign their name. You shouldn't be responsible if you never signed it, but you would definitely have to pursue legal action against the person who forged your name.
