Sentences with phrase «primary borrowers»

It helps homebuyers qualify for a loan by combining income from primary borrowers with money earned by other members of the household.

In contrast, sometimes co-owners of property who are both primary borrowers would have no duty to seek indemnification from each other, and sometimes co-owners of property who are both primary borrowers would have a right to seek enough indemnification from the other co - owner / co-borrower based upon their relative percentage ownership in the property.

Cosigners should know that their credit may be affected if the primary borrowers do not repay their loans.

Primary borrowers must be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security Number residing in the United States.

If you are married and both you and your spouse sign for the loan, then both of you are primary borrowers.

And, we believe that it is likely that their optimism is being passed to the primary borrowers - the students.

According to Navient, primary borrowers can qualify to release their cosigner once they graduate and have made 12 consecutive, on - time payments (both principal and interest).

Many parents do not know that under the PLUS loans, they are the primary borrowers and not students.

Parent PLUS loans are similar to Grad PLUS loans, but the parent of the student is the primary borrower.

And, you can only deduct what's listed above if you are the primary borrower.

They do not have to wait until the primary borrower is in default.

This helps the primary borrower acquire a lower interest rate.

Pass a credit check and make at least $ 40,000 per year (combined if the primary borrower and co-signer live together, $ 40,000 each if they live separately)

Loans are also dischargeable in the event of total and permanent disability or death of the primary borrower.

With this option, the student is the main or primary borrower of the student loan and the parent is the cosigner.

A cosigner takes on just as much responsibility for repaying the student loan as the primary borrower does, and is equally affected by any missed payments.

A co-signer accepts the responsibility of paying off the loan in case the primary borrower is unable to, so the loans will appear on the cosigner's credit history.

Sallie Mae, for example, announced a total and permanent disability program for Smart Option borrowers as well as forgiveness of unpaid balances if a primary borrower dies.

With a mortgage, for instance, a cosigner will have no rights to the house, but she will not have to make any mortgage payments unless the primary borrower can not.

A co-borrower, sometimes called a joint applicant, applies for the loan with the primary borrower and is equally responsible for repaying the loan.

Accordingly, cosigners are treated by lenders and servicers the same as the primary borrower, and can even be sued if the borrower defaults on the loan.

As with other loans, the primary borrower and the cosigner should have a clear understanding of who is making loan repayments and when.

A cosigner or guarantor agrees to make payments in the event that the primary borrower is unable to do so.

Private student loans do not affect credit scores for the primary borrower in any unusual ways.

Without this benefit, a cosigner may be responsible for paying off the student loans upon the primary borrower's death.

This is because a co-signor is liable to make payments if the primary borrower can not pay.

Students as well as cosigning parents, make sure to check on cosigner release options on any private loan before committing, this way a debt exit strategy can be implemented to ensure the primary borrower is paying back their debt, and the cosigner can receive the release benefit.

The new borrower of the EDvestinU Consolidation Loan must have been the primary borrower on all loans being included in the new consolidation loan.

In Wisconsin, Mariner Finance offers personal loans on both a secured and unsecured basis, and the lender allows for co-signers should the primary borrower need it.

In order for a cosigner to be released from a private student loan application, the primary borrower must often complete certain minimum requirements.

This means that if a primary borrower dies unexpectedly, the cosigner will not only be mourning the loss of a loved one, but be facing the reality of paying back student loans.

A cosigner is a person — typically a parent, relative, or family friend — who agrees to be responsible for a student loan if the primary borrower can not or does not pay it.

These are conditions like 2 years of on - time payments or other conditions that indicate the primary borrower's ability to handle the loan.

Later, there may be further difficulties, particularly if the primary borrower fails to pay back his or her loans.

If you have cosigned a student loan, then considering life insurance on the primary borrower could be a way to plan for a possible financial future.

Cosigner One who signs a loan agreement in addition to the primary borrower, thus agreeing to be held responsible for the loan should the borrower fail to pay.

Cosigners are backup payers; they promise to repay a loan if the primary borrower can not.

If a primary borrower dies, it could destroy the cosigner's credit or even put them into bankruptcy.

The primary borrower must also meet certain credit requirements before cosigner release can be granted, including a minimum income and credit score, and a maximum debt - to - income ratio

Cosigner A cosigner on a loan is a coborrower and is obligated to repay the debt if the primary borrower defaults on the debt.

However, a cosigner has no obligation to pay the loan unless the primary borrower falls into default.

Pass a credit check and make at least $ 40,000 per year (combined if the primary borrower and co-signer live together, $ 40,000 each if they live separately)

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.

The primary borrower can have credit life & A&H without the secondary subscribing.

And, it is likely that their optimism is being passed to the primary borrower - the student.

The cosigner shares the responsibility of repaying the loan if the primary borrower (the student) can not.

If the primary borrower is unable to pay the the loan back, full responsibility of repayment moves to the cosigner.

A co-signer accepts the responsibility of paying off the loan in case the primary borrower is unable to, so the loans will appear on the cosigner's credit history.

You do, if you are the primary borrower, you are legally obligated to pay the debt and you actually make the payments.

Cosigners are equally responsible for the student loan and will be forced to pay if the primary borrower does not.