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Moody's Investors Service reaffirmed the ratings of several financial guarantors on Monday but said it might still downgrade others; Fitch Ratings and S.&P. are also reviewing ratings.
By requiring contractors to enlist third party "sureties" as guarantors on projects, the Miller Act provides the government with the assurance that another party will step in to complete projects if need be.
There are schemes available which allow parents to act as guarantors on the loan, or to deposit savings with a lender which act as an "insurance" against higher loan-to-value borrowings.
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"I talked to attorneys, and they said, 'That's crazy, no one signs to be a personal guarantor on a commercial loan,' " his son said.
"I talked to attorneys, and they said, 'That's crazy, no one signs to be a personal guarantor on a commercial loan,' " his son said.
His mother co-signed as the guarantor on the layaway plan.
It turned out that Dr. Gomez was listed as an officer of the clinic and a personal guarantor on a loan.
Harrisburg has failed to make good on its guarantee, pointing to Dauphin County, a co-guarantor on some of the incinerator bonds.
Her ex-husband was her guarantor on the mortgage for her new house, she said, which she delights in running herself.
Update: Sotheby's was in fact itself the guarantor on this particular lot: it guaranteed the seller a certain minimum, regardless of what happened in the auction room.
Alongside this, 24% of parents who owned said they were, or planned to be, a guarantor on a mortgage, compared with just 7% of those in rented homes.
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