The deed supersedes the loan.
Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.
No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Yes. The buyer's attorney will make certain the mortgage is paid off from the proceeds of the sale. They are obligated to do so.
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.
Nothing. They are just two people saying they will be responsible for the loan. The difference is where you sign on the contract. Legally there is no difference. The co-buyer by signing is saying that they will insure the loan gets paid. If the loan does not get paid the co-buyer can have wages garnished and basically get the wrath of someone else not doing what they are supposed to.
No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.
Yes, the co buyer can have their name removed from the title. You can go to the title office and have it removed.
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Both the co-buyer and the co-signer get equal credit. Regardless of who is on top of loan. Also hurts equally if not paid.
The loan must either be paid off at which point the bank sends the title slip to the "owner" or the bank agrees to transfer the loan to someone else's name (the new buyer).
You can't. The lien holder is the owner. The buyer would have to qualify to take over the loan.
Of course you would give notice to the buyer that there is a default of the car loan in effect. To not give notice to the buyer would constitute fraud. You must be able to pass clear title to the buyer. If there is a car loan in effect the lender must have possession of the title. The buyer should contact the lender for a payoff figure and to arrange to have the loan paid off in order to receive CLEAR TITLE on the vehicle. You may not receive any of the proceeds of the sale if you owe the bank as much as the price the buyer is willing to pay.
You can as long as the title says:(example) John Doe or Jane Doe, if it says John Doe and Jane Doe then the cobuyer has to be a part of the sale.
I think it may mean that the seller of the vehicle will "hold the loan" or will let the buyer make payments to them and once paid in full, seller will then sign title over to buyer.
The buyer and co-buyer are responsible for the loan. that's YOUR money sitting there wrecked and the late charges, interest building up.