A surety under a loan. The co-maker is equally responsible for repayment as the borrower.
A second party who signs a loan, along with the borrower, and becomes liable for the debt should the borrower default.
A person, other than the borrower, who signs a note in order to give additional protection to the creditor granting the loan, because of the uncertain credit quality of the borrower.
Someone who signs a promissory note, along with the borrower, assuming responsibility for a debt.
A co-maker is a person who signs a promissory note along with the borrower, guaranteeing that the loan will be repaid. The co-maker and the buyer are equally responsible for the repayment.
Any additional person who signs promising to pay a contractual obligation.
Second borrower on the loan; has the same responsibilities for repayment as the borrower. Co-maker (also sometimes referred to as cosigner) is jointly and severally liable for the debt. Obtaining a co-maker is required for Spousal Consolidation loans.
A person who signs a promissory note in addition to the borrower. A co-maker's signature guarantees that the loan will be repaid, even should the borrower be unable to pay, the co-maker is still responsible for the repayment. See "endorser. "
Person who only signs the note and is guaranteeing the debt of the maker. A co-maker's income is used separately from the applicant to qualify for the loan. A full credit analysis of the co-maker is obtained. The terms co-maker, co-signer, and guarantor are all used interchangeably. The co-maker does not benefit from the loan proceeds.
One of two parents or individuals who are joint borrowers on a loan, each of whom are eligible, and who are jointly and severally liable for repayment of the loan.
An individual who co-signs a promissory note. In doing so, the co-maker is responsible for the loan if any of the other co-signers back out or renege on their promise to repay the loan.
A person who signs a promissory note along with the borrower. A co-maker's signature guarantees that the loan will be repaid, because the borrower and the co-maker are equally responsible for the repayment. See endorser.
One of two individuals who are joint borrowers on a PLUS loan or Federal Spousal Consolidation Loan and who are equally liable for its repayment.
A person who is a joint borrower on a loan and who is equally liable for repayment of the loan (example: spouses who borrower a Federal Consolidation Loan to repay a combination of their student loans).
Any party that co-signs a promissory note. All co-makers assume responsibility for the loan if any of the other co-signers renege.
A person who signs a promissory note with the borrower and assumes responsibility for the loan.
Also known a "Guarantor". Someone who signs a loan document along with the principal borrower, pledging to be responsible for the loan should the borrower fail to pay it.
A person who is equally responsible for repayment as the borrower.
A creditworthy co-maker is sometimes required in situations where an applicant's qualifications are marginal. A co-maker is legally responsible to repay the charges in the joint account agreement.
Person who co-signs a note with the borrower to give extra security to a loan because the borrower has a weak individual credit risk.