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Podcast Episode 003: "My parents have bad credit. Should I help by co-signing their mortgage?"

Episode 003: “My Parents Have Bad Credit. Should I Help by Co-signing Their Mortgage?”



When life stresses me out beyond belief, I find nothing more soothing or rejuvenating than reading about petty dramas I’m not personally involved in.

Neighbors feuding in all caps on Next Door; running blogs dragging the shit out of marathon cheaters; Facebook mommy groups erupting into explosive schisms over international geopolitics. Ahhhh… reading them is like slipping into a warm bath. So juicy! So low-stakes! With so much to fret about in my life, it’s nice to pause and contemplate the completely optional frettings of random other people I will likely never meet.

Which is why I love Reddit! And I’ll occasionally pull random questions that feed the drama-devouring beast within me interest me! Today’s question was found on r/personalfinance, a board where I lurk on the reg for obvious reasons…

Today’s question

“I currently live with my parents (22) and they want to sell our house and move into another. My dad can’t be on [the mortgage] because his credit is low so it would be my mom as the primary and me as cosigner. I am wondering if this is a good idea because I’m pretty nervous about this. I don’t want to ruin my credit or be stuck on a 30-year loan. If I move out can they take me off the mortgage? Thanks for any help.”

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