Studen Loan co-signor
Date: Mon, 06/28/2010 - 08:31
Studen Loan co-signor
As a co-signer, you are only responsible for the debt if the pri
As a co-signer, you are only responsible for the debt if the primary borrower defaults.
It will show up on your credit score as though you are the primary borrower, and as long as the primary borrower continues to make timely payments on the debt it will not affect your credit. The student loan debt will be considered separate from the mortgage.
When you sign as a cosigner, you take full responsibility of the
When you sign as a cosigner, you take full responsibility of the loan only if the primary borrower defaults on repayment of the loan. So, as OVLG attorney has written, it'll not affect your credit score if timely payments are being made.
And getting a mortgage has nothing to do with student loans. They'll be considered as a totally different entity.
