| figure out when to have them sign and it is easier to tell them to sign there regardless of single or joint borrowers. In our state we are told that the reason both of the co-borrowers have to sign is to recognize that they have in fact applied for joint credit and the co-borrower might have a lower credit score. The co-borrowers have the right to apply for separate credit even if they are married to each other. This is supposed to stop them from coming back later and saying that they didn't know that co-borrower caused them to have a higher interest rate. There is supposedly another reason in history that women used to have to apply for credit with their husbands, and were required to do so every time. I have no proof of this, but it is rumor in Louisiana... |
