Question

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what is the correct definition of capacity for potential cosigners?
○ the cosigners financial assets, such as a house or car
○ the cosigners past record of paying on time
○ the cosigners credit history
○ the cosigners current financial situation

Explanation:

Capacity for a cosigner refers to their present ability to cover the debt if the primary borrower defaults, which is determined by their current financial standing including income, ongoing expenses, and available resources.

Answer:

The cosigner's current financial situation