loans - Herman & Co. CPA

Getting a Loan 101

It is highly recommended that you prepay as much of your mortgage as possible every month, which will drastically reduce the total amount that you pay. However there are times where this could be disadvantageous. If you are in a situation where you don’t have funds to cover three to six months of expenses, it is recommended that you save that amount before you pay additional amounts on your mortgage.

Loan FAQ’s

What are the possible implications if I co-sign for a loan? The co-signer enters an agreement to be responsible for the repayment of the loan if the borrower defaults. A lender will usually not go after the co-signer until the borrower defaults, but they can lawfully go after the co-signer at any time.