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Updated over 5 years ago,

User Stats

225
Posts
72
Votes
Frank Y.
  • Lender
  • Philadelphia, PA
72
Votes |
225
Posts

How to have co-signer sign loan document

Frank Y.
  • Lender
  • Philadelphia, PA
Posted

Hello, all. I have a borrower who is going to borrow for fix & flip property. He is the sole owner of LLC, but his credit is not the best. He offered to have his wife, who has good credit, to co-sign. Our loan document include Mortgage, Promissory Note, and Guarantee Agreement. Where do I need the co-signer to sign? On all of these loan doc, or just sign on a separate one page Co-sign agreement where the co-signer will promise take all the liabilities of the loan document, if the borrower default? Please advise. Many thanks.

Frank