Common use of COSIGNER RELEASE Clause in Contracts

COSIGNER RELEASE. A cosigner release is available after 36 on-time, consecutive, regularly-scheduled monthly payments have been paid as part of a fully amortizing repayment schedule, and provided the primary borrower meets the loan underwriting requirements based on their own creditworthiness. It is the responsibility of the borrower to contact the Lender or loan servicer and request the cosigner be released from obligation on the loan.

COSIGNER RELEASE. A cosigner release is available after 36 12 on-time, consecutive, regularly-scheduled monthly payments have been paid as part of a fully amortizing repayment schedule, and provided the primary borrower meets the loan underwriting requirements based on their own creditworthiness. It is the responsibility of the borrower to contact the Lender or loan servicer and request the cosigner be released from obligation on the loan.