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Co-signing
Promising to pay someone else's debt if that person does not make good on their obligations. Auto loans and mortgages often require a co-signer.
2,166 Questions
You may have vested interest in the home, but it doesn't necessarily mean that it is yours now. Get a real estate lawyer and see what you need to do. Gather the proof that you have been making the payments--cancelled checks to the mortgage company are best.
Another PerspectiveNo. You cannot take possession of the property. You would need to bring an action to a court of equity and obtain a court order that transfers all right, title and interest in the property to you. If you lived in the home the court is more likely to view your payments as a form of rent. Courts rarely transfer title when a volunteer pays the mortgage while they were living with the owner. The property will pass to the heirs at law or under the will of the decedent.
How do you remove co-sign on mortgage?
By paying off that mortgage. If necessary the primary borrower would need to qualify to refinance in their own name alone.
By paying off that mortgage. If necessary the primary borrower would need to qualify to refinance in their own name alone.
By paying off that mortgage. If necessary the primary borrower would need to qualify to refinance in their own name alone.
By paying off that mortgage. If necessary the primary borrower would need to qualify to refinance in their own name alone.
What if the borrower dies and there was a co-signer?
The lender will go after the co-signer for payment.
The lender will go after the co-signer for payment.
The lender will go after the co-signer for payment.
The lender will go after the co-signer for payment.
Can a co signer be relieved of responsibility on a home loan after a period of time?
Only with the OK of the lender.
Once a mortgage has been signed it will remain in effect until it is paid. The bank required a co-signer in order to guarantee that mortgage would be paid if the primary borrower defaults on the payments. The co-signer remains responsible for the mortgage until it is paid off. In order to get your name off a mortgage you co-signed the mortgage would need to be paid off and refinanced in the sole name of the primary borrower.
Will the lender check the co-signers credit?
Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.
Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.
Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.
Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.
Co signed loan my name is on registration can i take the vehicle?
You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.
You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.
You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.
You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.
What happens when the cosigner dies and the loan is in default?
If the account was secured by what ever was purchased, then it is likely to be repossessed, and regular collection procedures will begin to collect any remaining balance. If the account is unsecured, collections will begin against the guarantor or primary on the account. It is possible that the guarantor may be able to get all or part of the debt covered by any funds available from the cosigner's estate, but this would likely require the assistance of an estate attorney.
Can a co-signer call for payment in full if the loan is not being paid?
The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.
The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.
The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.
The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.
Can you garnish your daughter's wages on a cosigned loan?
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
You have the right to think before you decide to take full responsibility for another person's loan. Did the lender have your current address? Usually, the lender will try to make the co-signer pay if the loan goes into default. However, if the lender didn't have your contact information it could not notify you of the default. You should have been monitoring the repayment of the debt since you guaranteed it. You could consult with an attorney to see if you had any rights that were violated under your state laws.
You have the right to think before you decide to take full responsibility for another person's loan. Did the lender have your current address? Usually, the lender will try to make the co-signer pay if the loan goes into default. However, if the lender didn't have your contact information it could not notify you of the default. You should have been monitoring the repayment of the debt since you guaranteed it. You could consult with an attorney to see if you had any rights that were violated under your state laws.
You have the right to think before you decide to take full responsibility for another person's loan. Did the lender have your current address? Usually, the lender will try to make the co-signer pay if the loan goes into default. However, if the lender didn't have your contact information it could not notify you of the default. You should have been monitoring the repayment of the debt since you guaranteed it. You could consult with an attorney to see if you had any rights that were violated under your state laws.
You have the right to think before you decide to take full responsibility for another person's loan. Did the lender have your current address? Usually, the lender will try to make the co-signer pay if the loan goes into default. However, if the lender didn't have your contact information it could not notify you of the default. You should have been monitoring the repayment of the debt since you guaranteed it. You could consult with an attorney to see if you had any rights that were violated under your state laws.
What can you do to have your name removed as co-signer if the borrower signed your name?
That is a criminal matter. File a police report and press charges. Perhaps someone at the district attorney's office could advise you further.
You need to notify the lender of the forgery and send a copy of the police report.
That is a criminal matter. File a police report and press charges. Perhaps someone at the district attorney's office could advise you further.
You need to notify the lender of the forgery and send a copy of the police report.
That is a criminal matter. File a police report and press charges. Perhaps someone at the district attorney's office could advise you further.
You need to notify the lender of the forgery and send a copy of the police report.
That is a criminal matter. File a police report and press charges. Perhaps someone at the district attorney's office could advise you further.
You need to notify the lender of the forgery and send a copy of the police report.
How can you sue the borrower to pay a loan you cosigned?
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
What is the diffrece between the primary borrower and the co signer?
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
Can a primary borrower have their name removed from a loan with a cosigner?
Names cannot be removed from loan contracts. New contracts can be written to superceed prior contracts, which in the case of a personal, auto or home loan means refinancing the loan. The lender offered the credit based on the qualifications of the parties who signed; therefore removing a party changes the qualifications for the loan.
A co-signer is needed by a borrower who's credit is not good enough to get approved for a loan in their own name. The co-signer guarantees the loan will be repaid. If the primary borrower stops making payments the co-signer will be held fully responsiblefor paying the loan balance.
A co-signer is needed by a borrower who's credit is not good enough to get approved for a loan in their own name. The co-signer guarantees the loan will be repaid. If the primary borrower stops making payments the co-signer will be held fully responsiblefor paying the loan balance.
A co-signer is needed by a borrower who's credit is not good enough to get approved for a loan in their own name. The co-signer guarantees the loan will be repaid. If the primary borrower stops making payments the co-signer will be held fully responsiblefor paying the loan balance.
A co-signer is needed by a borrower who's credit is not good enough to get approved for a loan in their own name. The co-signer guarantees the loan will be repaid. If the primary borrower stops making payments the co-signer will be held fully responsiblefor paying the loan balance.
They have factories and the workers get aid minimum wage
Fidel wouldn't spend his money buying cars from other countries or paying his workers a decent amount of money
Can co-signing affect my credit score?
You should understand what you're doing when you co-sign anything for anyone. You are guaranteeing that if they don't make their loan payments or (rent payments if you co-sign a lease), then you agree to be personally responsible for making those payments and paying off the loan.
It may take a while for you to become aware that the loan is in default if you are trusting that the primary borrower will make all the payments on time without any monitoring. Remember they didn't have good enough credit to qualify for a loan based on their own credit history. That default will be reported to your credit record since you are equally responsible for the loan. If you don't pay off the loan your credit will be ruined.
Co-signing carries with it a huge risk.
How can you protect yourself if you cosign an auto loan?
There is no "protection" for a co-signer except paying the loan if the primary borrower doesn't pay. If you don't pay the loan then your credit will be ruined. If you pay off the loan you can try to sue the primary borrower in civil court but the chance of reimbursement isn't generally good if they needed a co-signer in the first place.
Understand that when you co-sign for a loan you are guaranteeing that you will pay if the primary borrower doesn't.
