0
If you are a co-signer on a loan for a house and you refinance will your old debts be paid off?
Wiki User
∙ 8y ago
Co-signer or co-borrower? A cosigner has no legal right to property, unless their name is on the title/deed. When refinancing a house, if there is a "cash out" transaction, that money can be used to pay outstanding debts. Usually this is a Home Eq. loan, but it can be a refinanced transaction. Although the debts are listed in the paper work, they are not automatically paid, unless there are specific contractual stipulations between the lender and borrower.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Can my cosigner take their name off the loan without my permission?
The only way to take a cosigner off of a loan is to refinance it.
If you bought a house and had it financed with a cosigner are they on the deed and if you are able to refinance yourself can you do it without them?
Since you are both on the loan you are both on the title. You can refinance without them on the loan but would need them to sign the title over or transfer at close.
Can the primany buyer of an auto loan refinance the auto loan in the cosigner's name only?
No. The cosigner would have to apply for a loan in their name using their credit, income data.
Can your cosigner refinance your car without your permission?
No. As the one who originally took out the loan, they cannot refinance your car loan without your permission. The only thing they can do (and have to do) is to pay your payments if you default on the loan.
Can a cosigner be removed from mortgage loan?
No. The loan must be paid off and you must refinance without the co-signer.
Can the borrower of a private student loan change the cosigner during the term of a loan or must she refinance to do that?
AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
How can you remove the cosigner from a mortgage?
You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.
Can you refinance under HARP with a different co signer?
If you qualify for all the factors in a harp loan but work commission can you have a cosigner on the loan?
What do you have to do to refinance your mortgage?
You have to go to the bank that has the loan on your house. They will have you fill out a bunch of paperwork. After that they will refinance your house.
