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CO-SIGNER definition: 1. a person or organization that signs another person's application (= request) to borrow money…. Learn more.
Feb 22, 2023 · Key takeaways. A co-signer supports a borrower who needs help qualifying for a loan. Co-signers are most often added to mortgages, personal loans, auto loans and student loans. The co-signer agrees to take the same responsibility as the borrower in a loan agreement and is legally obligated to take over any payments the borrower misses.
Cosigner definition: a cosignatory. . See examples of COSIGNER used in a sentence.
Nov 3, 2021 · Key Takeaways. A co-signer is someone who takes out a loan with another individual. Co-signers typically have better credit and stronger income than the initial borrower so their agreement to sign on the loan can help get the other get approved. Co-signers are equally responsible for paying off the debt. Negative and affirmative activity on the ...
The meaning of COSIGNER is cosignatory; especially : a joint signer of a promissory note. How to use cosigner in a sentence.
Sep 12, 2023 · A co-signer is someone – such as a parent, family member or a friend – who adds their information, including income and credit record, to someone else’s loan application to help the primary borrower qualify for a loan or get better loan terms. The co-signer, however, is taking on shared financial responsibility for the loan and pledging ...
Oct 24, 2021 · Cosigning a loan will show up on your credit report and can impact your credit score if the primary borrower pays late or defaults. Cosigners may sign for student loans, personal loans, credit ...
