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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
What happens if you co sign for a car loan and you die?
There are different possibilities. If you have no assets and the primary borrower has defaulted, the bank is out of luck. On the other hand, if you have an estate and the primary has defaulted, the bank can make a claim against your estate. The laws vary in different jurisdictions. You should check the laws in your jurisdiction and make certain you understand your obligations before you co-sign.
There are different possibilities. If you have no assets and the primary borrower has defaulted, the bank is out of luck. On the other hand, if you have an estate and the primary has defaulted, the bank can make a claim against your estate. The laws vary in different jurisdictions. You should check the laws in your jurisdiction and make certain you understand your obligations before you co-sign.
There are different possibilities. If you have no assets and the primary borrower has defaulted, the bank is out of luck. On the other hand, if you have an estate and the primary has defaulted, the bank can make a claim against your estate. The laws vary in different jurisdictions. You should check the laws in your jurisdiction and make certain you understand your obligations before you co-sign.
There are different possibilities. If you have no assets and the primary borrower has defaulted, the bank is out of luck. On the other hand, if you have an estate and the primary has defaulted, the bank can make a claim against your estate. The laws vary in different jurisdictions. You should check the laws in your jurisdiction and make certain you understand your obligations before you co-sign.
What does it mean if a bank asks you to get someone to cosign for you?
they want your parents or another responsible adult to say they will repay the loan if you can't .
What is responsibility of a co-signer for an apartment?
Co-signers are jointly and severally responsible. That means that each is fully responsible for all the obligations under the lease and either could be sued for damages, unpaid rent, breaking the lease, etc. If one moves out without paying their share the remaining one will need to pay.
Co-signers are jointly and severally responsible. That means that each is fully responsible for all the obligations under the lease and either could be sued for damages, unpaid rent, breaking the lease, etc. If one moves out without paying their share the remaining one will need to pay.
Co-signers are jointly and severally responsible. That means that each is fully responsible for all the obligations under the lease and either could be sued for damages, unpaid rent, breaking the lease, etc. If one moves out without paying their share the remaining one will need to pay.
Co-signers are jointly and severally responsible. That means that each is fully responsible for all the obligations under the lease and either could be sued for damages, unpaid rent, breaking the lease, etc. If one moves out without paying their share the remaining one will need to pay.
Can you take out a home equity line of credit with a cosigner?
Yes, as long as the co-signer is fully informed that if you stop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
What happens if a co signer on a car loan passes away?
The surviving borrower is solely responsible for paying the loan.
The surviving borrower is solely responsible for paying the loan.
The surviving borrower is solely responsible for paying the loan.
The surviving borrower is solely responsible for paying the loan.
Who is the owner of a loan that is co-signed?
The lender is the owner of the loan.
The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.
See related question link.
The lender is the owner of the loan.
The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.
See related question link.
The lender is the owner of the loan.
The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.
See related question link.
The lender is the owner of the loan.
The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.
See related question link.
Is a surviving spouse responsible for the deceased spouses loan in Georgia?
no if they die the money they are owed will be taken out there bank account the remaning will be given out according to there will
Can a cosigner get out of a rental agreement?
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
Can a co signer on a lease be removed after 6 months?
That's up to the owner, landlord or management company. There is no universal rule stating such. Generally, the co-signer remains on the lease for the life of the lease unless otherwise stated in the lease agreement.
That's up to the owner, landlord or management company. There is no universal rule stating such. Generally, the co-signer remains on the lease for the life of the lease unless otherwise stated in the lease agreement.
That's up to the owner, landlord or management company. There is no universal rule stating such. Generally, the co-signer remains on the lease for the life of the lease unless otherwise stated in the lease agreement.
That's up to the owner, landlord or management company. There is no universal rule stating such. Generally, the co-signer remains on the lease for the life of the lease unless otherwise stated in the lease agreement.
To find out the status of your SSS loan check, you should first check your online SSS account or the SSS mobile app for updates. If you don't see any information there, consider contacting SSS customer service or visiting the nearest SSS branch for assistance. Ensure you have your loan details ready for quicker support.
Can a spouse refinance once separated from the loan owner in California?
Yes you can refinance and in order to secure a California home loan your spouse would have to sign a quitclaim deed, included in the final loan papers,to the affect that they are giving up their rights to the property. Your lender must put their blessing on this as well and your spouse will receive a questionairre from the tax collector asking if she received any funds (a buyout) in exchange for coming off title.
<Ahref="http:www.affordableloansbykevin.com">California home loan</A>
Can a bails bondsman garnish your co signers check?
SHORT ANSWER: YES
If you are not current and paid up then the creditor, in this case a bail bondsman, can pursue the cosigner. Garnishing pay, seizing property and so on.
That is why they require a cosigner, so that they can make someone pay.
How soon can you remove your name as a cosign for a house?
As soon as the loan is paid off.
The only way for a cosigner to "remove his name" is to pay off the loan. Since refinancing pays off the original loan (and creates a new one), this would provide an opportunity for the co-signer to opt not to co-sign the new loan.
Can you sell home to co borrower?
If two people both own a home or are both in the process of paying off a mortgage on a home, one of them can certainly buy out the others interest in that home, as long as both of them agree on the price.
What are the liabilities of a co signer for a mortgage?
The loan is essentially yours and takes away from your credit.
You are fully responsible for paying the balance if the primary borrower defaults on the loan. If there is a default it will be reported as your own default on your credit record. It will show up on your credit report as an outstanding debt and if you want to borrow to buy your own home, or refinance your own mortgage down the road, you may be rejected as having an inadequate income to cover both debts.
Can wife takes any loan with her signature through any bank if his husband is alive?
Yes. A wife does not need her husband for a loan. She may get a loan based on her own credit and employment. Some banking institutions have joint plans which later allow one spouse to apply without the other having to sign again yet still be on the loan.
If you have one of these plans in place and do not wish for this to happen, you will probably need to sign a termination of agreement.
If in question, it is always best to call your financial institution on their loan policies.
Can a cosigner repossess the car if other party is unable to pay?
Co signer does not have the right of subrogation. ( the power to recoup the losses). His agreement is only with the lender who will demand payment in case the principal borrower fails to pay. He has to honour the agreement. If he pays to the lender, he can have a legal remedy through court and can repossess the vehicle only if the court orders so. ( This is on an assumption that there is no agreement entered into between the principal borrower and the cosigner. Even if there is an agreement it can be enforced through a court only.)
When a buying car with a cosigner will your credit be mentioned?
Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.
Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.
Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.
Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.
Does an auto co-signer have to put the car in their name?
In most circumstances, both names (the person who bought the car as well as the co-signer) will appear on the ownership papers, and/or on the loan for the car. With respect to co-signing a car loan, if one person fails to make the payments, the co-signer is considered liable. I enclose a link about this.
