Good morning /r/personalfinance! I just have a quick question on loans. My mother and stepfather are fighting to save their home from foreclosure. We need to come up with $5k very soon, and start whittling away at the arrears ($28k). I'm trying to help out, but as a veteran who is currently a full time student, I just don't have the income needed to get a loan out, and my stepfather is a union carpenter and jobs are scarce.
However, my question is: I have SPARKLING credit but no income, and my stepdad has NO credit but has the income. Is it possible for me to co-sign a loan for him, even though I only get a student grant and have no income? (I go to school in the UK by the way, live off my Post 9/11 GI Bill grant and work slinging drinks, before anyone says "Get up and get a job"). Sorry if this is a really basic question, I have done my own loans throughout the years and paid them off but I've never had to co-sign. Also, sorry if this isn't the right place to post this, so if someone could direct me to another subreddit that can help, it would be much appreciated. Thank you for your assistance!
Edit: changed from "shit" credit to "no" credit.
Submitted September 12, 2017 at 08:13AM by MisfitAnthem http://ift.tt/2wXPNf2
