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The IRS where the asset and income information comes.
as an ex-landlord of decades....I always got full reports and the income is there...even current or most current recorded employer.
this is exactly the same documents used by Medicaid to determine eligibility. That low income is required by Medicaid. If under age 65, the eligibility requires an income not greater that the current poverty level plus 50 percent (might go up next year).... basically that is less than $18,000 income. If over age 65, there is an income and asset max required to enroll, and assets can be used to recover costs
regardless, setting up the holder of the note for fraud is not right...even if you can “put one over” on the originators
signing on a deathbed sounds like a totally bonus thing. No one can run that credit check without the signature...FIRST.
so, she never was checked on. Serves the originator right for failing to do due diligence
And yes my MILs credit was run before she co-signed for the loan on her death bed. It was run when they sought pre-approval for a loan.
if you know the person you want to co-sign cannot pay if you default....that is pretty much fraud.
typically the person getting a loan only needs a co-sign when their own credit and/or income will not be sufficient for the bank, car dealer..(or whatever institution is originating the loan). A co-sign that has an income so low to qualify for Medicaid will not be acceptable....if this is also an elderly person....this becomes even more problematic.
so, the answer is...sure they can sign but probably not going to get the loan with that co-sign.