A person who assumes joint liability with another person by applying for and obtaining a mortgage A co-signer has the responsibility for the repayment of the loan should the primary borrower default
- A person who agrees to assume a debt obligation if the principal borrower defaults on the payments A co-signer is not on the security instrument and is only responsible for the debt See also: co-borrower
A signer other than the borrower who agrees to assume responsibility for repayment in the event hat the borrower fails to repay Guaranty agencies or lenders may require co-signers, but federal regulations do not require them
One who agrees to assume the debt obligation if the principal borrower should default on mortgage payments A cosigner assumes only personal liability and has no ownership interest in the property His other income and obligations are used in the underwriting process to reinforce the credit of the principal borrower, but they are not given equal weight with those of the principal borrower They serve as compensating factors only Contrast with "Co-mortgagor"
A person who signs a credit agreement besides the borrower and is legally obligated to take responsibility for loan repayment if the borrower does not make payments
This is a credit worthy individual, usually a parent or spouse, who has agreed to share the responsibility for repayment of a student loan with the borrower
A person who agree to assume a debt obligation if the principal borrower defaults on the payments A cosigner is not on the security instrument and is only responsible for the debt See also: co-borrower
A person who signs a credit card application with the primary applicant The co-signer agrees to be legally liable for any balance incurred on the credit card, regardless of who used the card
Someone who assumes legal responsibility for repayment of a loan in the event the borrower does not pay A Cosigner may be considered for a Buyer who does not comply with all the credit requirements The income of the Buyer, however, must meet all the income and budget guidelines without reliance upon the income of the cosigner
A person who agrees to assume a debt obligation if the principal borrower defaults on the payments A co-signer is not on the security instrument and is only responsible for the debt See also: Co-borrower
A second party who signs a promissory note and assumes responsibility for payment of the loan A co-signer is fully responsible for the debt in the event the borrower does not repay the debt
Sometimes a creditor will ask for someone to co-sign or guarantee your loan This means they are responsible for your debts if you are unable to make your payments