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The meaning of COSIGNER is cosignatory; especially : a joint signer of a promissory note. How to use cosigner in a sentence.
Dec 18, 2021 · To cosign is to sign together with a borrower to help them get approved for a loan or to get better terms on a loan. As cosigning is a type of joint credit, the creditworthiness of both...
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. A co-signer agreement can affect the borrower’s and the co-signer’s credit—positively or negatively—depending on how consistent the borrower is with making payments.
Nov 3, 2021 · A co-signer is someone who applies for a loan with another individual and who contractually agrees to pay off the debt if the other borrower doesn't make payments. The cosigner signs the loan application with borrower and effectively guarantees the loan.
Mar 23, 2021 · A co-signer is someone who helps a prospective borrower—typically someone with poor credit or no credit—qualify for a loan by pledging to repay the loan if the borrower does not; the...
A cosigner is an individual who signs a loan along with a primary borrower, promising to repay the loan amount if the primary borrower cannot. The addition of a creditworthy cosigner can normally help a borrower with limited or poor credit history to obtain a loan.
May 10, 2024 · A cosigner is someone who takes equal responsibility for another person's debt, like a loan or rental lease. Adding a cosigner to a loan application can bolster your approval odds, especially if you have limited income or poor credit. On the flip side, a spouse, close friend or relative may ask you to cosign for a loan if you have strong credit.
Oct 24, 2021 · A cosigner on a loan is legally responsible for the debt if the primary borrower defaults. Cosigning a loan will show up on your credit report and can impact your credit score if the primary...
a person, country, or organization that signs a document together with another or others: He was awarded the Nobel Peace Prize together with his co-signer to the treaty. Fewer examples. This bill would impose a spending limit on a student's credit card unless the student had a co-signer.
When you cosign a document, you sign it with another person. You and your business partner might cosign a lease for your new office space. You can use the verb cosign in two slightly different ways.
