What risks carries a mortgage coach?

In case your income is not high enough for the requested amount for the purchase of an apartment, the Bank may suggest to draw a mortgage agreement for one or more coaches.

What risks in this case is he carries? What rights and responsibilities does he have?

The co-worker is a person who will bear the same responsibility, have rights and responsibilities for a mortgage agreement on a par with you. A co-coaches may be any person, regardless of the degree of kinship, but in the matter of the mortgage loan, the borrower and the cooker are more often spouses.

As we have already said the co-coachamist meets equal (solidarized) rights and mortgage obligations on a par with the main borrower. From here it follows that the co-machine must make a timely amount on monthly payments according to the schedule. If the main borrower stops paying a loan, the co-engine must continue to pay the remaining loan amount.

Mortgage Careguide Rights:

If we consider a mortgage in marriage, then both spouses have the right to property. One spouse is the main borrower, and the other co-coacher, even in the absence of official employment. Other order can be provided for by the marriage contract.

Also, the coachamor has the right to receive current credit information.

Before agreeing with the offer to perform a loan coacher, appreciate the estimated risks. Printing a loved one or a good friend, you can be in an unfavorable position for you. What is it about?

Based on all of the foregoing, we want to advise before taking such responsibility, to think about how your capabilities will be allowed to fulfill all the obligations to the end of the mortgage agreement.