Back to Glossary
January 19, 2023
A cosigner agrees to assume responsibility for debt repayment if the principal borrower fails to make a payment. The cosigner usually has better credit or a greater income than the principal borrower, who would not be able to receive a loan without the support of a cosigner.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?