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NYHELPs Cosigner Liability and Release



Cosigner Liability

Cosigners are equally liable for the repayment of the loan(s) for which they cosigned.

Cosigner Release

If a cosigner release option is available, a cosigner may be released from his/her responsibility if a borrower: *on-time payments are payments received within 15 days of the due date.

Upon entering into principal and interest repayment, payments must be made by the borrower directly, not a third party on the borrower’s behalf, in order to be eligible for Cosigner Release. To apply for Cosigner Release, contact Firstmark Services at 1-888-538-7378 or customerservice@firstmarkservices.com.