Posted on: 14th Jun, 2009 11:41 pm
How responsible am i if the main borrower defaults? I know i shouldnt have signed for my brother.
Hi, Im sorry about your situation. But being the co signer you are fully responsible for the loan/mortgage if the main borrower defaults on the loan im sorry. If the main borrower does not pay then they will come after you as you co signed the loan.
Hi abradyowns,
Welcome to our forum.
Yes, If you co-signer for loan & loan taker stop to paying dues to lender then you will be RESPONSIBLE for paying dues to lender.
There is no way to get out.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
Welcome to our forum.
Yes, If you co-signer for loan & loan taker stop to paying dues to lender then you will be RESPONSIBLE for paying dues to lender.
There is no way to get out.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
Co - signer bears all the responsibilities and thus you are responsible for the deed. :arrow: :arrow: :arrow:
keep in touch..........
keep in touch..........
Yes that is correct manoj thats why co signing a loan is just setting yourself up for trouble down the road.
Yes, manoj_gapale is right. :lol: