Tag: Co-signer

Client Co-Signed a Loan Now in Forbearance

Question: Our client co-signed a home loan for her sister who is now in forbearance.  Normally, I would use a 12-month payment history to offset the payment, but that is not possible.  The sister has offered to bring the mortgage current, will that work? NEW MC Mortgage Talking Points™ – Tips for Clients in Mortgage Forbearance […]

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FHA – Signer on Multiple Properties – Will FHA allow a person who has co-signed on an FHA loan to purchase their own home with FHA financing? [MTP™- Second Time Around]

Answer: If the co-signer was on an FHA mortgage, then they will have to be eligible to obtain another FHA mortgage based on one of the eligible circumstances that FHA allows (see guideline below). In order to disregard the previous mortgage debt on a new FHA loan, you will have to document 12 months of […]

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