Sentences with phrase «after the primary borrower»

In addition, for student borrowers who utilize a cosigner, the cosigner can be released from the student loan obligation after the primary borrower makes 24 consecutive on - time principal and interest payments during the repayment period.

They are only available to homeowners aged 62 and older (spouses can be under 62 and have the option to maintain the loan after the primary borrower dies).

Both Citizens Bank and Earnest offer a cosigner release which absolves the cosigner of any financial responsibility after the primary borrower makes a certain number of on - time payments.

Not exact matches

After you get a reverse mortgage on your primary residence, repayment is not due until the home is sold, the last borrower passes away or permanently leaves the home *.

In fact, Tiffany warns, that in certain states, some debt collectors can go after a co-signer before pursuing the primary borrower for a debt.

If the lender can't collect from the primary borrower, their next course of action is to come after the co-signer in order to collect.

Many lenders do offer cosigner release programs, however, where the primary borrower can have the cosigner released from the loan by making a certain number of on - time payments after graduation.

The $ 15,000 CityLIFT funds are actually a «soft second» mortgage which are then forgiven (free money) after the borrower has occupied the home for 5 years as their primary residence.