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No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.
No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.
No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.
No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.
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How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Will refinancing a car loan under the primary borrower's name remove the cosigner from the loan obligation?
Yes.
Can you switch the cosigner to the primary?
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Can the cosigner remove her name from a loan if the the account was taken to court and judgment was only made against the primary account holder and not the cosigner?
Generally, the co-signerdoes not have any authority or means to remove their name from a loan. That would involve altering the loan documents and the lender's records. The loan is owned by the lender.
If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
Is the primary on a loan obligated to pay back a cosigner if the cosigner pays off the loan without the knowledge of the primary?
YES !!! He/she should certainly discuss it with the cosigner. It may be a gift or it may just be that the cosigner doesn't want to have that note appearing on his/her credit report. Whatever the reason, even if the cosigner did it as a gift, the primary should acknowledge and express appreciation. But be prepared if the cosigner expects the loan to be paid back.
Does the primary signer have to be present for the cosigner to get off of a loan?
no
What are the cosigner's options if the primary defaults on the loan and leaves the country?
To pay the loan.
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
Does the cosigner have legal recourse monetary damages when the primary borrower defaults on a vechicle loan?
Does the cosigner have lega recourse monetary damages when the primary borrower defaults on a vechicle loan
