Casual Articles
Hubs | Hubbers | Topics | Request
#1 in Business Subscribe Email Print

You are here: Home > Finance > Loans > The Truth About Cosigning Loans

Tags
  • supplement
  • borrower
  • decision
  • cosign knowing
  • lender requires
    		•

    Links
  • George Washington and His Bosses
  • Unique Graduation Gift Ideas
  • Fax to E-mail Anywhere
    		•

    Casual Articles - The Truth About Cosigning Loans

    SAS Update - Caporicci & Larson - San Diego, Orange County, Oakland, and Sacramento
    In May of 2006 the Office of Management and Budget issued a new revised supplement for OMB A-133. This revised supplement had several changes made to grant program narratives on the program requirements, which resulted in other parts of the compliance supplement also being changed. The changes range from minor verbiage changes to specific changes in program requirements as a resu
    ndustry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    <
    How I Avoid Scams!
    Now you no as well as i do that there are new business websites and annoying emails about new business websites posted on the internet everyday! So who is checking these sites to see if they are real or SCAMS? This is the question that goes unanswered everyday. But the answer is: They are not being checked! With so many out there, it would be next to impossible to check them all! O
    Myth: By cosigning a loan, I am helping a friend or relative.
    Truth: Be ready to repay the loan. The bank wants a cosigner for a reason - they don't expect the friend or relative to pay.

    Think with me for a moment. If debt is the most aggressively marketed product in our culture today, if lenders must meet sales quotas for "loan production," if lenders can project the likelihood of a loan going into default with unbelievable accuracy - if all these things are true and the lending industry has denied your friend or relative a loan, there is little doubt the potential borrower is trouble just looking for a place to happen. Yet people across America make the very unwise (yes, dumb) decision to cosign for someone else every day.

    The lender requires a cosigner because there is a very high statistical chance that the applicant won't pay. So why do we appoint ourselves as the generous, all-knowing, benevolent helper to override the judgment of an industry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    How Would You Handle This Customer Service Issue?
    I was reading in the Winnipeg Free Press (my local paper) about a woman who was a passenger in a Unicity taxi cab. The woman had pre-paid her fare to the tune of $25.00. Nine dollars into the cab ride, the cab got into an accident.The woman was injured and unable to complete her trip. She asked for a refund of at least $16.00. The balance left on her pre-payment.You w

    debt is the most aggressively marketed product in our culture today, if lenders must meet sales quotas for "loan production," if lenders can project the likelihood of a loan going into default with unbelievable accuracy - if all these things are true and the lending industry has denied your friend or relative a loan, there is little doubt the potential borrower is trouble just looking for a place to happen. Yet people across America make the very unwise (yes, dumb) decision to cosign for someone else every day.

    The lender requires a cosigner because there is a very high statistical chance that the applicant won't pay. So why do we appoint ourselves as the generous, all-knowing, benevolent helper to override the judgment of an industry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    <

    Seven Keys to More Effectively Leading Teams
    Maybe you find yourself in a new team environment and leading a team for the first time, or maybe you have been working with and leading teams forever. Either way, the keys in this article – whether as new information or a fresh reminder – can make a world of difference in morale, productivity and results from teams. Help the team identify its purpose. Pe
    d the lending industry has denied your friend or relative a loan, there is little doubt the potential borrower is trouble just looking for a place to happen. Yet people across America make the very unwise (yes, dumb) decision to cosign for someone else every day.

    The lender requires a cosigner because there is a very high statistical chance that the applicant won't pay. So why do we appoint ourselves as the generous, all-knowing, benevolent helper to override the judgment of an industry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    <

    How To Boost Your Bottom Line With A Postcard Newsletter
    Does it seem like the road to creating a successful business is filled with roadblocks?Do you wonder how you ended up off course when you think about your vision for your business when you first started?The road to success can be filled with roadblocks that not only block the view of your vision, but keep you from moving forward.The first step towards
    e else every day.

    The lender requires a cosigner because there is a very high statistical chance that the applicant won't pay. So why do we appoint ourselves as the generous, all-knowing, benevolent helper to override the judgment of an industry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    <

    Accepting Checks in Your Business Virtually Risk Free
    Most businesses accept checks as form of payment for goods and services. However, accepting checks can be a risky endeavor if your company doesn’t follow good policies and procedures for preventing loss from bad checks. In fact, the reason some businesses do not accept checks is because of a history excessive “bad checks” that costs their business to much money and aggravation, p
    ndustry that is foaming at the month to lend money, and yet has deemed your friend or relative a deadbeat looking for a place to fail, or at least a loan default looking for a new home? Why do we cosign knowing full well the inherent problems?

    We enter this ridiculous situation only on emotion. Intellect could not take us on this ride. We "know" they will pay because we "know" them. Wrong. Parents cosign for a young couple to buy a home. Why do they need a cosigner? Because they couldn't afford the home! Parents cosign for a teenager to buy a car. Why would parents do this? "So he can learn to be responsible." No, what the teenager has learned is: if you can't pay for something, buy it anyway.

    The sad thing is that those of us who have cosigned loans know how they end up. We end up paying them but only after our credit is damaged or ruined. If you cosign for a car, the lender will not contact you when the loan is paid late every month, but your credit is damaged every month. The lender will not contact you before they repossess the car, but you now have a repo on your credit report. They will contact you to pay the difference between the debt and the below-wholesale repo price they got for the car, whic

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.casualarticles.com/article/110971/casualarticles-The-Truth-About-Cosigning-Loans.html">The Truth About Cosigning Loans</a>

    BB link (for phorums):
    [url=http://www.casualarticles.com/article/110971/casualarticles-The-Truth-About-Cosigning-Loans.html]The Truth About Cosigning Loans[/url]

    Related Articles:

    A Buyers Guide to Printing Services

    In today's highly competitive marketplace, image plays a very important role in the way people receive your product. When you decide to search for a print service provider, it will more than likely be for material that will be seen by the public and more importantly by potential clients. It is therefore very important that the way in which people receive the printed material be of the highest possible quality, not only regarding the corporate design and imagery, but also the physical elements, such as paper and print quality, layout and the physical form in which it is received, e.g. flyer, business card or pamphlet. In order to fully understand what it is that you should look for when outsourcing your print requirements, it is necessary to understand what products are best suited to which projects, and ways in which savings can be made without compromising the quality of the print. Printers will incorporate different methods for different tasks. Some of the most popular methods used today are offset lithography, rotogravure printing and flexography or screen printing.

    Six Marketing Tips for Trade Show Success

    Trade shows are a very effective way to grow your business, but can be a costly exercise. Make sure you make the most of being at a trade show by implementing these six important marketing tips.

    How To Create a Perpetual Traffic Generator

    What runs through your mind when you hear that ezine articles will bring you masses of fr^e traffic, get you higher listings in the search engines, and raise your profile on the web?

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com