[Words & Phrases]
on a positive tone: ポジティブな調子で
struggle to: ～するのに苦しむ
debt to income ratio: 返済負担率
joint guarantor: 連帯保証人
full back on: ～に頼る
Sylvia: Michael, thank you for your calling. Can Takashi join us?
Michael: Of course, no problem. I have both good and bad news regarding Bellevue. Which shall we do first?
Silvia: Let’s start on a positive tone.
Michael: Ok. The good news is we have managed to sell all the lots except for one.
Sylvia: Wow, I’m glad to hear that. You are ahead of schedule. So, what’s the bad news?
Michael: Well, the problem is this last lot. The buyer is struggling to get funds. It seems that the banks feel his debt to income ratio is too high. One bank asked for a cosigner, but the client is reluctant to do so.
Takashi: Sorry, what is the cosigner?
Silvia: Oh, sorry Takashi. You would call it a joint guarantee in Japan.
Takashi: Oh, I see. I understand it now. I don’t think everyone has a reliable cosigner.
It’s common to need a cosigner if a person’s credit score’s low or underdeveloped. I think this is similar to the system in Japan. If somebody has a below average credit score, one way to secure funding would be a bank loan with the guarantee from the FHA.