ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
Playlist Finance: Ethics/Morals 5 videos
What is a Beneficiary? Beneficiaries are named in just about every investment. The beneficiary is the person who receives the profits or distributi...
What is a Comfort Letter? When a company’s books are being audited, when new pending issue securities are revising their financials to meet compl...
What is a Co-signer? A Co-signer is a 3rd party who agrees to also be held liable for a financial obligation in the event that the primary signer d...
Finance: What is a Co-signer? 7 Views
Share It!
Description:
What is a Co-signer? A Co-signer is a 3rd party who agrees to also be held liable for a financial obligation in the event that the primary signer defaults. This is often the case with students, where a parent will co-sign a lease for off campus housing, car loans, or other types of finance when the primary signer runs a higher risk of default.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Banking
- Terms and Concepts / Board of Directors
- Terms and Concepts / Company Management
- Terms and Concepts / Credit
- Terms and Concepts / Derivatives
- Terms and Concepts / Ethics/Morals
- Terms and Concepts / Financial Theory
- Terms and Concepts / Investing
- Terms and Concepts / Regulations
- Terms and Concepts / Stocks
- Terms and Concepts / Tech
- Terms and Concepts / Trading
- Terms and Concepts / Trusts and Estates
Transcript
- 00:00
Finance a la shmoop what is a cosigner? well it's just this oh wait
- 00:08
that goes in the trigonometry video people why don't you do this all right [Man discussing trigonometry]
- 00:13
never mind cosigner it's this... okay all right we're in finance so a cosigner is
- 00:19
this there we go it's your mom you really wanted that
- 00:24
condo with the nice view of the park the cool arts district and the local dentist [Dentist office building]
Full Transcript
- 00:29
office nearby for some weird reason but the building owners just didn't trust
- 00:33
you alone to make the payments yourself which makes sense given that you're a
- 00:37
part-time barista who takes at least one sick day every week you blame them so [Sick days marked on calendar]
- 00:42
your condo dream seems a well a bit out of reach luckily for you the bomb
- 00:48
or Bank of mom came in handy when she co-signed the loan along with you all [Mum signing loan agreement]
- 00:54
right what does that co-signing mean well it means that you are the first one
- 00:59
obliged to pay the monthly payments on your loan but if you don't well then the
- 01:03
Bank of America way bigger than the bank of mom can come after mom and she is
- 01:09
directly legally obligated to pay the loans that you promised - hey so yeah
- 01:16
you got your condo dream but mom's living quarters aren't so spacious yeah [Mum laying in a car backseat]
- 01:21
well you made her co-sign for your deadbeat self hanging her butt up to dry
- 01:26
and now she's well enjoying the view from her SUV parked on the curb of the [SUV window winds down and Mum appears]
- 01:31
road outside the dentist hang in there mom you'll get a better
- 01:35
parking lot slot with a view someday
Related Videos
GED Social Studies 1.1 Civics and Government
What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...
What's a dividend? At will, the board of directors can pay a dividend on common stock. Usually, that payout is some percentage less than 100 of ear...
How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...