Friday, August 12, 2011

When applying for mortgage, is co-signer means same as co-borrower?

A co-borrower is liable if the borrower doesn't pay, also. These terms are usually interchangeable in mortgage-ese, although co-borrower is the term used on the application. People usually call it a co-signer if they are a non-occupant borrower. Anyone who signs the note & mortgage is co-liable.

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