Posted on: 11th Mar, 2009 01:32 pm
If I request to add my Sister to the title to the property and as a liable party on my oan. The person(s) I want to add understands and agrees to assume the obligation to make payments due, and to perform all obligations of a borrower or mortgagor under the terms of the Note and Security Instrument executed in connection with the loan. The person(s) I want to add also understands and agrees that the Lender or Loan Servicer may report information about the account to credit bureaus. Late payments, missed payments or other defaults on the account may be reflected in their credit report. The person(s) I want to add to the loan will be authorized to get information about the loan and may discuss the loan with the Lender or Loan Servicer. Would they receive a TILA?
Hi Guest,
If you add your sister to the title and then add her to the laon, I think she would receive a TILA because she will then be one of the co-borrowers and will have the right to get information pertaining to the loan.
If you add your sister to the title and then add her to the laon, I think she would receive a TILA because she will then be one of the co-borrowers and will have the right to get information pertaining to the loan.