 |
Co-signing for Relative |
| |
 |
i have a relative that wants me to co-sign for a house. do you know how this will affect me in the future when i either try and buy a house of my own or try
to lease an appt? |
| |
| |
 |
If your relative needs a co-signer, that means that the lender thinks he or she poses a risk, and can't be depended on to make the payments. You won't do them any favor by helping them get in over their heads, and you will lay your own credit record open to problems.
The entire loan will show up on your record as your debt. It may be very difficult for you to get another mortgage loan on your own. And if your relative is late with payments, the problem will show up on your credit record and affect your credit score. |
| |
|
Edith
Originally published on February 7, 2008 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
