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You can not add someone to the loan without refinancing the whole loan and the other person then applies with you. If the other person is looking for credit -- there is a way for them to show that they are paying on the loan. That person will send in his/her checks to the lender. That person must keep all the bank statements or copies of the checks to verify that they have been paying it. After a year, if they are applying with you on the mortgage, or they are applying for anything else, they can include a letter of explanation and copies of the checks, so the new lender can in fact see that they have been paying on the mortgage and have been paying on time.
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How can someone apply for a mortgage loan?
Someone can apply for a mortgage loan by going to the Realtor website. The website has information on how people including those with bad credit can apply for a mortgage loan.
Can someone on disability cosign a mortgage loan?
You need to ask a mortgage agent.
Can you add a co-borrower to an existing home loan?
No, you have to refinance the mortgage. The person you want to add to the loan needs to apply with you on the new one.
How does one explain a mortgage?
A mortgage is a concept which can be explained simply to someone. A mortgage is essentially a loan in which the house functions as a source of collateral.
What independent sources of information are available for someone seeking mortgage loan help?
Some independent sources of information that are available for someone seeking mortgage loan help are "Citizen's Information" and "Mortgage Banker". Both have unbiased advice from industry experts.
How can someone apply for a mortgage loan?
Someone can apply for a mortgage loan by going to the Realtor website. The website has information on how people including those with bad credit can apply for a mortgage loan.
Can someone on disability cosign a mortgage loan?
You need to ask a mortgage agent.
Can you add a co-borrower to an existing home loan?
No, you have to refinance the mortgage. The person you want to add to the loan needs to apply with you on the new one.
How does one explain a mortgage?
A mortgage is a concept which can be explained simply to someone. A mortgage is essentially a loan in which the house functions as a source of collateral.
What independent sources of information are available for someone seeking mortgage loan help?
Some independent sources of information that are available for someone seeking mortgage loan help are "Citizen's Information" and "Mortgage Banker". Both have unbiased advice from industry experts.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
Can you use someone else's property as collateral for a loan?
yes you can, provided the owner of the property agrees to mortgage it for the loan
Where can someone get a mortgage loan for people with bad credit?
One can get a mortgage loan for people with bad credit in two different places. The first place that one can get a mortgage loan for people with bad credit is a bank, like Wells Fargo. Another place that one can get a mortgage loan is a credit card company, like American Express.
Is a mortgage considered a bond type security?
No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.
What is the difference between a mortgage and monthly rent?
Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.
How much does it cost to add someone to your mortgage?
depneds who your mortgage is with... but more than likely yes.
How can I pay my mortgage loan on-line?
“How can I pay my mortgage loan on-line?”
