cj.lowery asked:


I currently work in the mortgage financing industry. I would like to be able to refinance my customers auto loans along with their home loans. Many of them do not have the equity to pay their auto loans off and many have rates on them ranging from 18-26%. This would allow me to provide another beneficial service and supplement my income.

Any suggestions on how to get started? Companies that employ auto finance brokers remotely?

ALLAN

gotta_b_kidding_me asked:


My husband jointly owns a home with his two sisters. Both sisters are in financial trouble and one wants to get a home equity loan (or maybe LOC). She has talked to a mortgage loan officer who said that my husband doesn’t have to co-sign for the loan, only that he has to sign something giving his “permission” for her to get the loan. What the heck is that all about? Have you ever heard of such a thing? Is this the same thing as a “guarantee”? He is NOT going to co-sign a loan for her under any circumstances (if he wants to remain married to me at least)! Any advice would be GREATLY appreciated!
anyone but you…..
I would never, ever co-sign a loan for anyone - not even my own brother or my parents because this affects my husband, my life-partner as well. This is what marriage is all about. We do not have marriage issues - been married for 24 years last month. It’s a respect issue.
anyone but you…
thank you for your answer - sorry for being too touchy - I was probably a bit misleading in my question - I wouldn’t divorce my husband over this because it would never get to that point - we always make all of our financial decisions jointly - we would never make such a decision without being united in it
The sister that wants to get the loan has the worst credit of the three, she has had the same job for a long time, but it’s only a part-time job and she can’t even pay her bills now, so I don’t see her being able to make these payments either. My husband really doesn’t want to do this, but his mom is giving him a major guilt trip for not supporting his sister! We’re still researching so that we can give a complete answer as to why he won’t sign for her, which is why I was trying to find out the diff b/w “co-signing” and “guaranteeing” The way I look at it, if we do this, it puts our whole financial future in jeopardy and that affects my kids. Our first priority is to each other then to our kids and anyone else we can help falls in line after that. Extended family is important, but once you’re married and have kids your first priority becomes your own family. I will be contacting the mortgage company tomorrow for more details but wanted to see what you guys knew first. Thanks much.

GAVIN