From AskMe: How much will my father co-signing on a mortgage help me? Will the lender essentially give me the same rates they would give my dad?
This article is about Asides Wednesday, 28th June 2006 (by J.D. Roth)
From AskMe: How much will my father co-signing on a mortgage help me? Will the lender essentially give me the same rates they would give my dad?
This article is about Asides Wednesday, 28th June 2006 (by J.D. Roth)
Copyright © 1999-2010 by GetRichSlowly.org All Rights Reserved
Privacy Policy Terms of Service
Disclaimer:All information provided on this site is for informational purposes only. GetRichSlowly.org makes no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions in this information or any damages arising from its display or use.


RSS Feeds
Facebook
GRS Twitter
October 15th, 2008 at 1:26 pm
co-signing my car loan (my first loan/access to credit) was the only way i could get one, becuase i had no rating.
June 9th, 2009 at 7:44 am
I would be very careful about asking someone to co-sign on a mortgage. Not just to protect the other person if you default, but to protect yourself if THEY get into financial trouble and have to declare bankruptcy. (If that happens, you are at risk of losing your house to THEIR creditors). The bottom line is, don’t buy a house you can’t afford on your own. Seriously. (the same should really go for a car, although losing a car is less devastating than losing a house).
PS this is not some self-righteous person making a judgement from on high - I just don’t want to see other people make the same mistakes I’ve made in my life.