When you cosign for a loan, you are a cosigner A cosigner agrees to repay that loan if the primary obligor (other person signing the loan) does not pay
Someone who is willing to sign a mortgage loan obligation with you in case you default on your monthly payments Normally, the cosigner is required to go through the same application and approval process as the original signer of the loan
A person who cosigns a credit card application with the primary applicant The cosigner agrees to be liable for any balance that the primary applicant allows to go into default
A second creditworthy party who signs a promissory note with a borrower who has no collateral or satisfactory credit history The second party guarantees that the loan will be repaid if the borrower fails to make payments
A second creditworthy party who signs a promissory note with a borrower who does not have collateral or good credit history The second party guarantees that the loan will be repaid if the borrower fails to make payments
If you can't qualify for a mortgage you may need a Cosigner to help you obtain the mortgage A Cosigner is usually a close relative who is willing to sign the mortgage with you and is equally responsible for repaying the loan A good cosigner is generally someone with an excellent credit/payment history and/or more-than-sufficient available funds or income to be able to make the payment if you are unable to for any reason
One who agrees to assume the debt obligation if the principal borrower defaults on mortgage payments A co-signer assumes only personal liability and has no ownership interest in the property His or her income and obligations are used in the underwriting process to reinforce the credit of the principal borrower The co-signer's credit is not given equal weight with that of the principal borrower, but serves only as a compensating factor Contrast with co-mortgagor
Someone who is willing to sign a mortgage loan obligation with you in case you default on your monthly payments A cosigner is required to go through the same application and approval process as the original signer of the loan
A term referring to a person, other than the principle borrower, who signs for a loan The cosigner(s) assumes equal liability for the loan [FRBSF] Another person who signs for a loan and assumes equal liability for it [FRBC][FRBM] (see also loan)
A friend or relative who comes to a borrower's rescue by co-signing (which literally means being indebted for) a mortgage A cosigner can't improve your credit report but can improve your chances of getting a mortgage
one of two or more signers of the same document (as a treaty or declaration) a signer in addition to the principal signer (to verify the authenticity of the principal signature or to provide surety)
Another person who signs for a loan and assumes equal liability for it Credit The promise to pay in the future in order to buy or borrow in the present The right to defer payment of debt
Someone who signs a Note with the primary borrower for a loan Although the cosigner does not own the property along with the primary borrower, they share equal responsibility for loan payments and are required to repay the loan if the primary borrower does not WHEDA does not allow cosigners for mortgage loans