tag:blogger.com,1999:blog-7896998645146042950.post8486293744513173640..comments2024-03-28T10:24:52.662+03:00Comments on 50 Plus Finance: Will You Be My Co-Pilot? 5 Important Things to Know Before Co-Signing on a LoanDavid Letohttp://www.blogger.com/profile/17812482108962723457noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7896998645146042950.post-48335388932196128992015-02-08T11:43:10.042+03:002015-02-08T11:43:10.042+03:00Helping someone by borrowing money is one thing co...Helping someone by borrowing money is one thing co-signing a loan is another. When you borrow money you know your exposure which cannot be more than the money you borrowed. But when you co-sign a loan you are potentially taking out a loan that you have no control of or benefit from. The lender can actually come after only you for the repayment of the loan. They don't have to exhaust all the avenues with the original borrower before they come after you. It is like offering an open check to someone. I have seen many a times loans ballooning to twice the amount with late payments and penalties. For me, the person you are co-signing with must be worth all these troubles. He/she must be someone you will have no hesitation to offer one of your kidneys, like a child or sibling. JJ Moorehttp://cheapautoinsurance.net/car-insurance-mythsnoreply@blogger.com