Good Afternoon,
We have an application where someone would like to be a guarantor on a HELOC. I have not encountered this before. I assume they would be treated as a co-borrower and subject to all the same requirements and disclosures. Is this accurate? I cant find anything in 1026.40 on guarantors/guarantees.
Any help would be much appreciated. Thank you!
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.