Thank you for providing the most intelligent information I’ve heard on this subject! PS. And also for refraining from having annoying “music” in the background lol ❤
You're welcome, Noelle! I'm so pleased you found the video -- and found it helpful! 😁 I leave it up to my viewers to provide their own soundtrack at home. 😂
You're so welcome, @rogerl19! I'm happy you got some helpful information from the video... your brain and my brain might work similarly if you liked how I organized the information. 😄 If you have any other questions or would like help with a mortgage, please don't hesitate to reach out -- 503-799-3711 / juleef@rate.com. I help folks with loans in all 50 states!
It's not without it's risks, *for sure* , which is a lot of why I made this video. I hope you've not had any bad experiences personally. Happily, I can say that the majority of the cosigner situations I encounter work out just fine. But you definitely have to trust the person for whom you're cosigning *and* go in with your eyes open. Talking through all the "what ifs" ahead of time is really important.
Hi there! That's a little beyond my area of expertise. If you own a home with another person (whether you are both on the loan or not), you both have to sign off on the ownership of the property in order to sell it. If one person wants to sell and the other one doesn't and you really can't work things out, you could wind up in court. I would definitely recommend talking through things as best you can and possibly going to mediation to see if having a professional facilitate the conversation might help. Because if you wind up going to court, only the lawyers are likely to win. There's an association of mediators that might help you find someone to work with here: www.mediatorcertification.org/ This situation is a big reason I mention the idea of creating a partnership agreement ahead of time. It's really hard to figure things out on the fly, after the fact. I truly wish you the best of luck in working through the situation!
I'm so, so sorry to hear that. Getting on the same page is important, as any misalignment in assumptions can lead to problems. But even then, there's a big element of trust required. I hope anybody considering cosigning for someone watches the whole video, understands the risks and takes the suggested measures to mitigate them and protect themselves as best they can. I hope you and your family can patch things up at some point. Family bonds are worth more than almost anything else in life.
Hi, can you please tell me, if the mortgage balance is 78k and primary borrower/ owner is self employed. How can you remove a co signer. 18 years ago, my husband signed their family home as a co signer.
Hi Sherry! If the current loan is FHA, USDA or VA, it is automatically assumable. Your family can the loan servicer and ask to initiate the assumption process. If the loan is conforming (the other option if not FHA, USDA or VA), they can ask, but the odds are pretty slim that an assumption would be allowed. If that's the case they would have to refinance to remove your husband from the loan. I hope that helps a little bit, but feel free to call me at 503-799-3711. With a little more information about your goals and situation I might be able to make other suggestions.
Thank you for providing the most intelligent information I’ve heard on this subject! PS. And also for refraining from having annoying “music” in the background lol ❤
You're welcome, Noelle! I'm so pleased you found the video -- and found it helpful! 😁 I leave it up to my viewers to provide their own soundtrack at home. 😂
Thank you for very clear, thorough information. Big plus with no music or echo in the background! Very sound.
You're so welcome, Sandy!
And I'm glad my minimalist aesthetic with regard to background music and investment in a good mic worked for you. 😆
Thank you for the most clear and structured presentation on how this all works and the different options available.
You're so welcome, @rogerl19! I'm happy you got some helpful information from the video... your brain and my brain might work similarly if you liked how I organized the information. 😄
If you have any other questions or would like help with a mortgage, please don't hesitate to reach out -- 503-799-3711 / juleef@rate.com.
I help folks with loans in all 50 states!
Co-signer always get screw. Never co-sign
It's not without it's risks, *for sure* , which is a lot of why I made this video. I hope you've not had any bad experiences personally.
Happily, I can say that the majority of the cosigner situations I encounter work out just fine. But you definitely have to trust the person for whom you're cosigning *and* go in with your eyes open. Talking through all the "what ifs" ahead of time is really important.
Enough screw can build deck !
Hi, can you please tell me how does it work if buyer won’t sales home when co-buyer forced to sales home
Hi there! That's a little beyond my area of expertise.
If you own a home with another person (whether you are both on the loan or not), you both have to sign off on the ownership of the property in order to sell it. If one person wants to sell and the other one doesn't and you really can't work things out, you could wind up in court.
I would definitely recommend talking through things as best you can and possibly going to mediation to see if having a professional facilitate the conversation might help. Because if you wind up going to court, only the lawyers are likely to win. There's an association of mediators that might help you find someone to work with here: www.mediatorcertification.org/
This situation is a big reason I mention the idea of creating a partnership agreement ahead of time. It's really hard to figure things out on the fly, after the fact.
I truly wish you the best of luck in working through the situation!
@@workshopmortgage thank you
Never co-sign
Co-signing destroyed my family relationships.
I'm so, so sorry to hear that. Getting on the same page is important, as any misalignment in assumptions can lead to problems. But even then, there's a big element of trust required.
I hope anybody considering cosigning for someone watches the whole video, understands the risks and takes the suggested measures to mitigate them and protect themselves as best they can.
I hope you and your family can patch things up at some point. Family bonds are worth more than almost anything else in life.
Never ever co-sign for anyone!
Hi, can you please tell me, if the mortgage balance is 78k and primary borrower/ owner is self employed. How can you remove a co signer. 18 years ago, my husband signed their family home as a co signer.
Hi Sherry! If the current loan is FHA, USDA or VA, it is automatically assumable. Your family can the loan servicer and ask to initiate the assumption process.
If the loan is conforming (the other option if not FHA, USDA or VA), they can ask, but the odds are pretty slim that an assumption would be allowed. If that's the case they would have to refinance to remove your husband from the loan.
I hope that helps a little bit, but feel free to call me at 503-799-3711. With a little more information about your goals and situation I might be able to make other suggestions.