Skip to main content
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.”

Read More
For Piggy so loved her readers that she gave them unfettered permission to do with their own money as they damn well pleased.

Ask the Bitches: How Do I Say “No” When a Loved One Asks for Money… Again?

We got a question recently that I just had to share with the whole class. It evokes one of the purest reminders that personal finance is indeed personal.

Our anonymous letter writer is dealing with a common problem: what to do when relationships and money meet? In this case, it’s a family relationship. And this is only the latest in a long pattern of clashes on this issue.

“Hey Bitches. My cousin just lost his job, which means my aunt is gonna start giving him money again, which means she will very likely ask me if she can borrow some money to give him. I don’t want to help her enable him anymore and I also just don’t want to give them money. It’s hard enough to save money for myself. I can’t say I don’t want to help her enable him because she’ll get angry and say I’m being disrespectful. But if I tell her I don’t have money to spare I know she’s gonna bring up the iPad I recently bought. Honestly, it’s a lose-lose situation, but what could I say to tell her no?”  

FULL. BODY. CRINGE.

Oh the secondhand familial guilt! The magnetic pull of deeply ingrained elder respect! The weight of an elder asking—nay, telling—you to do something! Years of CCD and generations of elderly Italian relatives are bearing down upon my tender soooooul!

Can’t you just feel the dread wafting off this question like the putrid stench of Aunt Bertie’s perfume as she leans in to demand a kiss on her cheek?

Read More