I’m hardly involved in this process and they haven’t asked me to Co-sign for a house, but they have asked my younger, never bought a home, financially responsible and good credited younger brother (27).
Parents sold their house a little over a year ago. Mother works full time in a coffee shop and father is a self-employed musician and has been for about 30 years. They make a decent income, but I guess on paper my dad looks sketchy?
They have been working with a financial advisor or someone in real estate who has supposedly been looking into how this could negatively effect my brother, but is only annoyed when he calls her to ask her any questions. The conclusion between my brother and I is that she’s not being very honest with him but is trying very hard to get my parents a loan.
My brother is single, 27, great job making 6 figures and has plans to buy multiple homes in the city he lives in, fix them up (he is a builder/painter) and rent them to low income families. This is important to him and he’s been moving towards it for a couple years and even has people/organizations wanting to help him invest.
He just can’t have this loan with my parents effect his future plans to buy his first, second, third and so on home. What is he looking at happening if he were to co-sign?
Submitted May 24, 2018 at 08:35AM by velveteentouch https://ift.tt/2J4uYp6
