5 Mortgage Questions Co-Signers Need to Ask (VIDEO)

Typically regarded as a rite of passage when growing up, purchasing a home is a major life decision and one that should not be taken lightly. After all, mortgage payments can last for decades and can be very, very expensive to exit once the dotted line is signed. All of these complications are compounded by the addition of another party to the loan, also known as a co-signer. For a variety of reasons, borrowers might need a co-signer to help them get the loan; however, there are many things a potential co-signer should consider prior to agreeing to this.

In this article, we will review some of the reasons why a co-signer might be needed for a mortgage loan as well as five important questions that you should ask yourself if you are considering co-signing a loan for someone.

Continue reading here.