My sister-in-law is a real *****,but said if her and her husband acted as co-signers so we could get a house,they would "keep it in their name forever' (the house) just to be spiteful because we don't get along. Can they do that and if so,what could we do about it?
Thanks.
N.
2007-09-07 04:29:58 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
She is a nosy,controlling witch and I want nothing to do with her or her family.
They would try to tell us what to do in our own house..LOL! I should be grateful for that? No,thank you.
Keep those answers comin....
2007-09-07 05:37:04 · update #1
They say all 4 of our names would be on the title (ACK!!!) Me,hubby,her,and her hubby. Who would we talk to about not having THEIR names on it? I am a little confused here....if it is the owner,7 they found co-signers for my husband, 9not *****-in-law) then,whoever the co-signers are,do their names HAVE to be on the title? or just me,hubby,& the owner?
2007-09-07 21:04:02 · update #2
They say all 4 of our names would be on the title (ACK!!!) Me,hubby,her,and her hubby. Who would we talk to about not having THEIR names on it? I am a little confused here....if it is the owner,7 they found co-signers for my husband, (not *****-in-law) then,whoever the co-signers are,do their names HAVE to be on the title? or just me,hubby,& the owner?
2007-09-07 21:04:28 · update #3
OK MY HUBBY ALREADY SIGNED THE CONTRACT HIM & THE SELLER
WHY WEREN'T THE CO-SIGNERS THERE THEY SAID MONDAY,DOES THAT SOUND RIGHT? AND WHEN DOES A LOAN "CLOSE"? AT CLOSING? WILL THE COSIGNERS BE AT THE CLOSING & CAN I TAKE THEIR NAMES OFF RIGHT THEN & THERE (IF IT IS ***** IN LAW) WHAT IF THEY START FIGHTING?
2007-09-09 04:15:41 · update #4
O & I have not gotten a copy yet...maybe that's why?
2007-09-09 04:16:39 · update #5
If they are co-signers, all that means is that they would be responsible for paying the mortgage payments if you could not or did not. They can be a co-signer for the mortgage without being on the deed at all. That way then they'd potentially be responsible for the debt, without having any claim to the asset.
As long as you don't put them on the deed for the property, there's nothing they can do about it, other than to hope that you keep making the mortgage payments, so that they don't have to.
2007-09-07 04:34:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If they co-sign on the loan, they WILL be on title and the mortgage...after the loan closes you can deed them off title. You can get them off the mortgage by refinancing again [like 6 months down the line]
just because she is co signing does not mean the lender is just looking at credit. The lender looks at the WHOLE picture
and takes everything into consideration.
2007-09-07 15:42:00 · answer #2 · answered by Tiffany 3 · 0⤊ 0⤋
No, they can't. A co-signer is just that....someone who signs the note with you to guarantee repayment of the loan. Legally, they have no claim to the property....unless, of course, you default on payments and they end up paying for it...then they can take you to court over it.
2007-09-07 11:34:28 · answer #3 · answered by claudiacake 7 · 0⤊ 0⤋
No they cannot do that. When the loan is paid off, it will be in your name and you will have the deed.
The co-signer is only there for the lender in the event you default on the loan.
2007-09-07 11:32:40 · answer #4 · answered by khrome_wind 5 · 0⤊ 0⤋
Okay, this is absolutely the wrong thing to do. If they co-sign, you've got a big problem. If you ever wanted to sell the property, the title wouldn't be clear. Find another co-signor or wait until you don't need one.
2007-09-07 11:38:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The first and third answerers are correct. I must say that if they are willing to co-sign, you should be a little more grateful.
2007-09-07 11:40:53 · answer #6 · answered by Angela C 6 · 0⤊ 0⤋
If they cosign the loan, be sure the deed is only in your names. If their names are on the deed, you cannot get it remove without their signatures. Please do not do this without an attorney or you will live to regret it.
2007-09-07 11:36:29 · answer #7 · answered by Suzy 5 · 0⤊ 0⤋
Call 3-4 lenders and ask them about co-signing.
I wouldn't use your sister-in-law at all.
2007-09-07 11:34:18 · answer #8 · answered by kys 4 · 0⤊ 0⤋
The first poster is correct.
Just pay on it long enough to establish your payment history and then refinance in your names only.
2007-09-07 11:34:13 · answer #9 · answered by ? 7 · 0⤊ 0⤋
no the others are right but you might be cutting off you nose to spite your face -- but i would not use them and when i got the loan with out their help they would never darken the door stoop!!!
2007-09-07 11:40:05 · answer #10 · answered by mister ed 7 · 0⤊ 0⤋