co-signing loans

A friend recently came to me about a loan she had co-signed for her roommate to pay for culinary school. The roommate completed the program and got a job, but she wasn't making enough money to pay off the loan. She deferred the loan as long as possible, and with each deferral, the loan balance kept...

Many moons ago, we in the mortgage business would sometimes hear the phrase, "I've got terrible credit but my Uncle said he would co-sign for me" and we would put together a financing package that would allow the nice Uncle to appear on the loan with the person who had the bad credit. Lenders...