Has anyone heard about a service where you can pay someone to act as a cashflow only guarantor to the bank and you pay them a fee for the service? I would have thought accountants would have jumped and run with a concept like this? I have a commercial opportunity which is cash positive enough to pay the principle and interest and would love to have any leads on anyone who has heard of this.
Wouldn’t that just be a loan co-applicant? You don’t have their name on the title so they don’t own the property but they are responsible for the loan as well (as a guarantor).
The only way to get off the loan though would be for you to refinance after you are sufficient to hold the loan by yourself.
The other alternative is of course they get the loan part of it, you pay that loan off as well and pay them on the side.
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