credit score: Co-signing 101
- 01/24/19 10:45 AM
When home prices rise, many first time home buyers or home buyers with less than perfect credit often look to family or friends to help them buy a home. This is evident in the recent rise of mortgages that have co-signers. A co-signer is a person who is obligated to pay back the loan, just as the borrower is. A co-signer may be a spouse, parent, grandparent or friend. Co-signers should be aware of their financial obligations before agreeing to do so. It is best that they sit down with a lender or financial planning professional before taking action. Here are some important factors … (1 comments)
When home prices rise, many first time home buyers or home buyers with less than perfect credit often look to family or friends to help them buy a home. This is evident in the recent rise of mortgages that have co-signers. A co-signer is a person who is obligated to pay back the loan, just as the borrower is. A co-signer may be a spouse, parent, grandparent or friend. Co-signers should be aware of their financial obligations before agreeing to do so. It is best that they sit down with a lender or financial planning professional before taking action. 
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