Who is a co-applicant? A co-applicant refers to a person who applies along with the borrower for a loan. This is done so that the income of the co-applicant can be used to supplement the borrowerâs income and increase his/her eligibility.
Here are some states' approaches to the question of awarding post-judgment interest: 1  California provides for a fixed interest rate of 10% per annum for postjudgment interest. 2  North Carolina applies a statutory rate of 8%.
In North Carolina, a lender may obtain a deficiency judgment following foreclosure. However, there is an exception to this general rule. The lender cannot get a deficiency judgment if the mortgage was a purchase money mortgage (N.C. Gen. Stat. Â§ 45-21.38).