My mom not too long ago requested me to assist her co-sign a mortgage for a house she’d like to purchase in Pennsylvania. I presently stay alone in an house in NYC. Presently my mom rents an house for $1,300 a month the place she lives with my two youthful siblings, however she says her month-to-month mortgage funds can be significantly cheaper within the residence she needs to purchase and it might be an important assist to her monetary scenario. She assured me that she’d make her funds on time each month, however her revenue is not excessive sufficient for the mortgage to be authorised and she or he’s a single mom so she wants me to be her co-signer. Each of our credit score scores are within the 700s however my revenue is larger than hers. I am in my early 20s and have not established a profession or completed my research but. I additionally know nothing about residence possession or mortgages in any capability. I do not need to disappoint my mother however I am terrified that by some means my future funds and credit score rating might be wrecked if one thing goes improper with this. What are the dangers related to this case if I observe via and co-sign her mortgage? Any assistance is appreciated, thanks.



View Reddit by 19mw95View Supply

LEAVE A REPLY

Please enter your comment!
Please enter your name here