Sentences with phrase «of cosigners said»

34.40 % of cosigners said cosigning has hurt their ability to qualify for mortgages, auto loans, or other types of financing.

34 % of cosigners said they would not cosign on their children's student loans if they could do it again.

According to our survey, 34.40 % of cosigners said their children have made a late payment on a cosigned loan.

Not exact matches

Sallie Mae said its promissory note does say that the loan may be declared in default and due and payable in the event of the cosigner's death, but they do not report the loan to the credit bureaus as defaulted unless and until it reaches 211 days of delinquency.

The finance application is done online and is automated so I needed a cosigner even though I make $ 30k a year now, and although I originally passed, they changed some info after I provided proof of income which required me to put more down or get said cosigner.

What this means is that after a certain period of consecutive on - time payments — say, 12 or 24 months — you can request that the lender remove the cosigner from the loan.

I applied for this card in May of 2015, Discover said I needed a cosigner / joint account, score at that time was 690 CS, very hesitant about applying again

For example, you can cite a 2016 CreditCards.com survey that says 38 percent of cosigners on credit cards and loans lose money.

31 % of parent cosigners said cosigning has hurt their ability to qualify for a mortgage, auto loan, or other type of financing (compared to 34.40 % last year)

«The biggest reason for cosigning is to help people get approved for a loan they don't qualify for on their own,» says Devin Hughes, director of business development at LendKey, «or to achieve a lower rate if the cosigner has a better credit score or financial history.»

«If you can give us 12 months of cancelled checks that shows that the cosigner is paying the debt, we can work with that, but payments on a newer loan will be calculated as part of your debt - to - income ratio,» says Koss.

My main goal is to get my name off of the loan (if he makes consistent payments for a designated period of time and has gainful employment, Navient has said that he can apply for a cosigner release).

«Even if the borrower could qualify for the loan without a cosigner, adding a cosigner might enable the borrower to get a better interest rate if the cosigner has a higher credit score than the borrower,» says David Levy, author and editor of Edvisors Network, a news and information hub about planning and paying for college.

Jeannie Tarkenton, Founder and CEO at Funding University, a private student loan lender who specializes in non-cosigned loans, had the following to say in regards to qualifying for a student loan without a cosigner, «The vast majority of undergraduate students do not have deep credit history or meaningful FICO scores - and banks are unable or unwilling to use behavioral data that are predictive of loan payment success of college graduates; so, in post 2007 environment banks simply will not extend credit to students.

The Consumer Financial Protection Bureau noted in a 2015 report that found nine out of 10 borrowers who applied for cosigner release were rejected (Editor's note: In an Aug. 12, 2016 «Your Money» column, The New York Times» Ron Lieber reported that Citizens Bank says it grants 64 percent of requests for cosigner releases, Sallie Mae approves «more than half,» and PNC's approval rate is 45 percent).

69.80 % of our respondents said that their children had not asked the private student loan lender for cosigner release.

As it turns out, a large proportion of parents said that they regret becoming a cosigner on their child's student loans.

When you're in college and you're taking out your loans, you don't usually have much of a say in the terms that will apply to you — interest rates for federal student loans are determined by the government and private lenders will adjust their terms according to your credit score (or that of a cosigner).

I would say the majority of student loans are processed with a cosigner.