geeze don't be stupid
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
A person with good credit and an ability to pay signing on a loan for another person and guaranteeing the loan.
Yes, if both people apply for a joint loan, both credit reports will be used to determine the elgibility of the borrowers.
Both parties on the loan. Co-signer and other person they co-signed for
The person with bad credit pays back the loan that the good credit helped him with in good payment statis. Have payment met on time or a little early will help the person with bad credit. The person with good credit is very generous with his credit. If the bad credit person does not pay on time or falters the loan. the Good credit person will have a problem . Not the bad credit person. Helping someone get back on their feet is a good thing. Make sure that your Good credit is not in jepordy.
The note and mortgage must be signed by the owner of the property. The lender checks the credit record of the person who signs the loan application. If you didn't sign the loan application then you are not responsible for paying the loan and your credit isn't affected.
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.
Your loan will not be affected by your spouses debt as long as you are not associated with her accounts thru those companies.
No, the bank or Loan Co. has to do a credit check and place of employment which could take up to a week or so, if the credit check is not in good standing, or if the person is unemployed then of course no loan
If there are 2 people on the deed of trust and only one on the loan - then the person who has defaulted on the loan will have their credit negatively affected. The one who is only on the deed of trust will lose ownership to the bank or mortgage company, however, their credit will not be affected unless they co-signed or guaranteed the original loan that has defaulted.
a blind person with good credit has a more chance than a person who can see with bad credit maybe it's the credit of the person
It should have a good effect if its on time.