cosigners
Shared loan backers
Cosigners are people who sign a document alongside another party, sharing legal responsibility for the obligation.
Most commonly, a cosigner guarantees a loan or lease when the primary borrower lacks sufficient credit: Her mother was a cosigner on the apartment lease.
If the borrower defaults, the cosigner becomes liable for the debt.
In shared participation
- severallyEach considered apart
- liableLegally responsible for something
- obligationRequired task or commitment
- defaultPreset standard option
risk · responsibility · guarantor · surety · obligor · debtor · indemnity · recourse
Enforceable written agreement
- endorserOne who publicly approves
- witnessOne who attests
- notarizationOfficial document verification
- disclosureAct of revealing information
terms · promissory note · legal obligation · binding · consent · release · amendment
Aid or sponsorship
- underwriteAssume financial liability
- vouchGive personal assurance
- pledgeBinding promise given
- assuranceFirm promise or certainty
security · collateral · bond · endorsement · guarantee · commitment · financial backing · sponsor
Numerical measure of borrower reliability
- credit reportRecord of borrowing behavior
- credit historyRecord of past borrowing
- creditworthinessAbility to repay debts
- risk assessmentEvaluating likelihood of harm
approval · qualification · income verification · debt-to-income · credit check · applicant · eligibility · denial
Mother or father
- family memberPerson connected by blood
- spouseMarried partner
- relativeConnected by blood
- friendNon-kin mutual bond
trust · favor · assistance · support · helping hand · student · first-time buyer · immigrant
jointly
In shared participation
- severallyEach considered apart
- liableLegally responsible for something
- obligationRequired task or commitment
default · risk · responsibility · guarantor · surety · obligor · debtor · indemnity · recourse · secondary liability
contract
Enforceable written agreement
- endorserOne who publicly approves
- witnessOne who attests
- notarizationOfficial document verification
disclosure · terms · promissory note · legal obligation · binding · consent · release · amendment
backing
Aid or sponsorship
- underwriteAssume financial liability
- vouchGive personal assurance
- pledgeBinding promise given
assurance · security · collateral · bond · endorsement · guarantee · commitment · financial backing · sponsor · safeguard
credit score
Numerical measure of borrower reliability
- credit reportRecord of borrowing behavior
- credit historyRecord of past borrowing
- creditworthinessAbility to repay debts
risk assessment · approval · qualification · income verification · debt-to-income · credit check · applicant · eligibility · denial
parent
Mother or father
- family memberPerson connected by blood
- spouseMarried partner
- relativeConnected by blood
friend · trust · favor · assistance · support · helping hand · student · first-time buyer · immigrant
- signersendorsers
- examinersinspectors, examiner, reviewers, inspector, auditors
- lending rulesusury laws, fair lending, predatory lending, truth in lending, loan terms