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futuremrs
LIF Infant
Member since 5/05 259 total posts
Name:
Michele
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mortgage
Can you have a co-signer on a mortgage if you have bad credit?
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Posted 3/28/07 9:07 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
LAMGAJ28
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Member since 10/05 6039 total posts
Name:
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Re: mortgage
Yes....
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| Posted 3/28/07 9:18 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: mortgage
I think so- my Dad was going to co-sign my brothers- but it turned out my brother didn't need it
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| Posted 3/28/07 9:18 AM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: mortgage
Yes, you can. I wouldn't recommend it though, unless you absolutely have to. Things can turn ugly pretty quickly with things like this. If someone does co-sign for someone else with a mortgage, I recommend they try to refinance within a few years and have the other person's name removed.
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| Posted 3/28/07 10:15 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: mortgage
yes, but the co-signer has to be aware of the responsibility he/she is taking on -a whole mortgage would then be added to their credit report - so if they already have a mortgage, now thats two mortgages. And if you default, they are held responsible.
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| Posted 3/28/07 10:34 AM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: mortgage
yes
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| Posted 3/28/07 10:51 AM |
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Re: mortgage
Yes but I think that if anyone on the mortgage has bad credit, the terms of the mortgage might not be the greatest.
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| Posted 4/9/07 4:01 PM |
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