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#1333179 - 01/28/10 07:26 PM Home Equity and Cosigner
rwr12179 Offline
Gold Star
Joined: Oct 2004
Posts: 256
According to regulation, is a home equity loan allowed to have a cosigner on the loan?

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Lending Compliance
#1333197 - 01/28/10 07:33 PM Re: Home Equity and Cosigner rwr12179
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Nothing on a Federal lever that would prohibit it. State law however may be different.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1333668 - 01/29/10 02:55 PM Re: Home Equity and Cosigner rwr12179
M Cockrell Offline
Diamond Poster
M Cockrell
Joined: Jan 2003
Posts: 1,048
Dallas, TX
As Dan stated, some state laws may prohibit it.

In Texas, it would be considered "additional collateral" & your loan would NOT be in compliance.
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"Remember no man is a failure who has friends." - Clarence (the Angel) Oddbody - It's a Wonderful Life

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