months,and then they come the loan, they have the good credit and the income,what do you all think about that?they want us to be happy to.
2007-04-20 15:11:42 · 8 answers · asked by monkey_green_park 1 in Family & Relationships ➔ Marriage & Divorce
One lesson I have learned in life don't mixed these things and friends. It is risky for them to co-sign and also for you. Think about it, you wouldn't want to ruin a great friendship over money.
2007-04-20 15:26:00 · answer #1 · answered by Krinta 7 · 0⤊ 0⤋
I think its a bad idea. A home loan is long term 15-30 years. I would never expect another couple to put that kind of investment into my own future. Anything could happen in that amount of time. I looked at your past questions and it seems you need to take the time to learn how finances and credit work. I know you want a home, but taking it slow and making good, sound financial decisions is important. What you need to do is focus on having good income and credit yourself, that way you won't require a co-signer at all. Find someone to talk to about all this, get focused on what you want and detail the goals you need to set to get there.
Good luck :)
2007-04-20 15:45:12 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Here is what you should do have your bset friend go on the mortgage but i repeat no on the deed. As long as they are not on the deed/Title you canalways refinance the home and they the best friend of the mortgage at any time. SO if your best friend co-sign its not for the life of the loan. You canhave your best friend stay on the loan until you refinance your home. I know of a good mortgage company that can help you.
Give APex Mortgage a call
301-877-2323
Website:www.lowermyinterestrate.net
2007-04-20 16:20:37 · answer #3 · answered by lscalder 2 · 0⤊ 1⤋
They want to co-sign on a mortgage? That is so not a smart thing *for them* to do, because if you default, you'll drag them down with you. Of course, I'm not implying that you would intentionally default, but we never know what live will throw at us (losing a job, getting sick and being unable to work, etc).
2007-04-20 15:23:46 · answer #4 · answered by kp 7 · 1⤊ 0⤋
If they co-sign, they're in it until the loan's paid off.
The bank won't let them out.
That can destroy a friendship over time if something happens to prevent you from paying off the loan.
2007-04-20 15:16:24 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Wait until you can get a loan on your own. Nothing destroys friendships faster than money.
2007-04-20 15:18:57 · answer #6 · answered by Anonymous · 2⤊ 0⤋
i would really seriously consider other options...i understand that its an easy way to go and ur friends really want to help, but it is so easy to ruin friendship over something like that, incase something was to happen...its better not to risk it...good luck....
2007-04-20 15:20:40 · answer #7 · answered by ro19_2000 3 · 2⤊ 0⤋
And the same question pops up again
2016-08-24 00:14:46 · answer #8 · answered by Anonymous · 0⤊ 0⤋