In Mexico if someone dies, the credit dies with them and there are insurance policies to make sure the bank doesn't lose here. I read somewhere that in the US some credits are inherited or passed on to the endoreser (not sure about the word here, that dude who co-signs with you whenever you are getting a big loan), is that true?
Ya, the banks do have insurance policies to protect themselves. You are correct though that if someone does co-sign on a loan, it is then their responsibility to take care of the loan. That is why I wouldn't have anyone co-sign on it.
Good to know fact that you will handle this.
In Mexico if someone dies, the credit dies with them and there are insurance policies to make sure the bank doesn't lose here. I read somewhere that in the US some credits are inherited or passed on to the endoreser (not sure about the word here, that dude who co-signs with you whenever you are getting a big loan), is that true?
Ya, the banks do have insurance policies to protect themselves. You are correct though that if someone does co-sign on a loan, it is then their responsibility to take care of the loan. That is why I wouldn't have anyone co-sign on it.