IT relief for home loan co borrower

Sir there has been a lot of related discussions on this topic..I suggest u go thru the forum..Even i can help you by posting few threads..I hope i helps you sir...

 /forum/messages/2009/11/57173_interest_on_housing_loan_query.asp

I could not locate the particular case I have mentioned in the threads.

The case is particular in following way - 

"The second applicant is placed as loan guaranter in the loan documents."

So question is if guaranter is paying back the money (we can have the account statement for EMI deductions) is he liable to have the tax benefits ?