0
Can a lender on an auto loan require a co-borrower or guarantor to go on the title?
Wiki User
∙ 8y ago
The lender can require just about anything, but it is more likely that they will want every name on the title to be on the loan, not the other way around. If anyone should insist the cosigner's name be on the title, it would be the cosigner himself. That will give him a right to take possession of the vehicle if he is stuck with the payments.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Where do you purchase title insurance?
When purchasing or refinancing a home, you will have settlement conducted by a Title Company, the title company is also the licensed title insurance provider. Up to two policies will be issued. Maryland Specific: If you are purchasing a property and taking out a loan, the lender will require a Lenders Title Insurance Policy. And you will have the option of purchasing an owners title insurance policy for your protection. If you are refinancing your current home then the lender will only require the lender's policy. In both instances the title insurance policies will be issued at the time of closing.
Do you have to get a title search done to refinance?
That depends on the lender. Some require a full title examination and othrs require only a present owner rundown. Some lenders do not examine the title at all but rely on the credit report.
Why does the wife have to sign the mortgage in kansas?
If a wife is an owner of the property then she must sign the mortgage in order for the lender to acquire good title to the property if there is a foreclosure. If the wife isn't an owner the lender may require her to sign in case she has any other rights in the property such as homestead rights.If a wife is an owner of the property then she must sign the mortgage in order for the lender to acquire good title to the property if there is a foreclosure. If the wife isn't an owner the lender may require her to sign in case she has any other rights in the property such as homestead rights.If a wife is an owner of the property then she must sign the mortgage in order for the lender to acquire good title to the property if there is a foreclosure. If the wife isn't an owner the lender may require her to sign in case she has any other rights in the property such as homestead rights.If a wife is an owner of the property then she must sign the mortgage in order for the lender to acquire good title to the property if there is a foreclosure. If the wife isn't an owner the lender may require her to sign in case she has any other rights in the property such as homestead rights.
After the vehicle title has been issued can the bank request a change of title and have the cosigner added.?
In most states, yes, the lender is actually the 'owner' until the loan is paid off and can require that the cosigner be on the title.
How to qualify fir a loan with a property tax lien ny state?
The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.
How do I get a title to a vehicle that was secured by a loan that was not reaffirmed after bankruptcy?
You don't. You voluntarily surrender the vehicle to the lender, or at least offer the ooprtunity for the lender to secure it. If the lender declines, you get this in writing and ask the lender to surrender the title to you. On the outside chance this occurs, you take the title to the DMV and change the title.
What is a mortgage title?
In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.
What is a mortgage title guarantee?
In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.In order for a lender to loan funds to a borrower with real property as the security, the borrower's title to the property must be guaranteed so that in the event of a foreclosure the lender will acquire good title to the premises. Title is guaranteed via a title examination, an attorney's certification that they have examined the title and all outstanding encumbrances have been reported and title is in the name of the borrower, and a title insurance policy that covers the lender's interest.
What is guarantor?
A guarantor is what the bank requires when the loan applicant doesn't have good enough credit or income to obtain a loan on their own. It's the co-signer who guarantees that the loan will be paid. If the initial borrower fails to make the payments then the guarantor must pay the loan in full. If they don't then their credit record will be ruined and the bank may seek a judgment to attach their assets to satisfy the debt. Being a guarantor or co-signer on another person's debt is extremely risky. If you decide to do so then you should make certain that your name is also on the title to the property that is being financed in case you need to take possession if the borrower doesn't pay. When someone asks you to be a guarantor, make certain you understand your risk. _________________________________________________________ A guarantor is a Person or firm that endorses a three party agreement to guarantee that promises made by the first party (the principal) to the second party (client or lender) will be fulfilled, and assumes liability if the principal fails to fulfill them (defaults). In case of a default, the guarantor must compensate the lender or client, and usually acquires an immediate right of action against the principal for payments made under the guarantee.
What is title seasoning for mortgages?
Title seasoning is when the lender requires the seller to be on title for a certain amount of time prior to closing. Title seasoning is only an issue when the buyer is in need of financing. So if you are a buyer who needs financing and you are buying from a seller who's been on title for a week, you need to have your mortgage broker find a lender who does not have title seasoning requirements. If you are a seller, you either need to wait 90 days before you sell a property since that's what a lot of lenders require, find a cash buyer who doesn't need financing, or find a lender that does not have seasoning requirements.
What title policy insures title to the lender?
Lender Policy When taking out title insurance, usually for a minimal fee you would obtain a simultaneous policy...So that you and your lender would be covered. It is important to have an owners policy covering the value in the home above the lender so that your interests are covered as well.
What type of title insurance is requested by lenders?
A Lender will require a Lenders Title Insurance policy if they are extending credit on a property. The Lenders title insurance policy is based off of the Loan amount that the borrower receives. It will only protect the lenders interest in the property if a problem arises on title.
