EDIT: figured it out, not gonna put the house in my name. I didn't like the idea at first anyway. I'll just see what other options my parents might have.
Hello,
My parents, about 50 and 60, asked me if I'd be willing to put the house in my name. I'm 25 years old and live 4-5 hours away from my hometown. They want to remove my dad's name, I think keep my mom's name, and add me in to refinance the house. We still owe a sizeable amount on it. It's not close to being paid off.
I dont think my parents are trying to be shady but I'm not sure about how smart they are with these type of things. They're both originally from Mexico and speak a little bit of English.
I'm afraid that if I do this, it'll affect my credit and ability to find housing in the near future. I still rent so I can work near San Francisco. On top of that, I currently have a car loan, 9k, I'm making steady progress on and student loans (25k) that I'll pay off eventually. My credit is in a good spot but nice amount of debt to work with already. I'm sure this isn't a good idea but I'd like to get some opinions if any body has some knowledge on this.
Thanks
Submitted May 18, 2017 at 11:07PM by JulyMorals http://ift.tt/2pZplMa
