Posted on: 25th Nov, 2009 04:04 pm
i recently applied for a fha loan, and i found out that i need a co signer co borrower to help me to qualify, does it matter if the co signer/borrwer is married or not and yes it is a relative of mine??? If the person is married does the spouse have to be added to the loan as well???
Hi rhodges,
Even if the co-signer is married, the spouse does not have to be added to the loan. As long as the co-signer has good enough credit, he/she can sign on the mortgage. There is no need for his/her spouse to co-sign on the loan and take the responsibility of the mortgage.
Even if the co-signer is married, the spouse does not have to be added to the loan. As long as the co-signer has good enough credit, he/she can sign on the mortgage. There is no need for his/her spouse to co-sign on the loan and take the responsibility of the mortgage.
what if I cosigner for my daughter and my husband doesn't. is he responsible if she fails to pay or just me the co-signer
gail, i just answered a similar question that you asked here:
http://www.mortgagefit.com/predeal/about33808.html
http://www.mortgagefit.com/predeal/about33808.html
I am marrying a man with bad credit. Does he HAVE to apply for loans that i may want in the future!
It is not mandatory for your husband to apply for loans. If you have the required credit score and income, you can yourself qualify for a loan.
Husband co-signed on daughter's mortgage. Just read in certain states the obligation can pass on to the spouse and/or estate if co-signers dies before mortgage is paid. I live in GA. Help!
Hi Guest!
Welcome to the forums!
If the primary borrower cannot pay off the loan and if the co-signer is deceased, then the liability can come upon the estate of the deceased co-signer to pay off the loan. You can ask the daughter to refinance the loan solely in his name.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If the primary borrower cannot pay off the loan and if the co-signer is deceased, then the liability can come upon the estate of the deceased co-signer to pay off the loan. You can ask the daughter to refinance the loan solely in his name.
Feel free to ask if you've further queries.
Sussane