Legal Question in Credit and Debt Law in California

cosigning for family members

I'm cosigning for my parents to buy a home but i will be part owner, will my credit be affected if i want to purchase my primary home on my own?


Asked on 9/27/07, 8:30 pm

1 Answer from Attorneys
Jonas Grant Law Office of Jonas M. Grant, A.P.C.

Re: cosigning for family members

This isn't a legal question. You need to consult a financial or other advisor. If they don't pay or are late, then I would suspect your credit could easily be negatively impacted. If they do pay, it may or may not affect your ability to qualify for additional loans - a mortgage broker should be able to assist with that issue.

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Answered on 9/28/07, 7:24 pm


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