If a co-signor of debt proves that the main borrower paid 12 months of the debt, the lender does not need to count that debt against the co-signor.
| Posted on |
Answer: [tweet-start]Co-signor debt does not need to be counted if the borrower can prove that the person they co-signed for paid the debt for at least 12 mos.[tweet-end] Following is the guidance directly from the Fannie Mae selling guide. Reference: B3-6-05, Monthly Debt Obligations (04/25/2017) Debts Paid by Others When a borrower is obligated on […]