Co-signing a mortgage could help a family member achieve the dream of homeownership.
If a loved one asks you to co-sign, consider the potential risks.
Although you wouldn’t have any right to the house, you’d be financially responsible if your family member fell behind on payments.
Co-signing could affect your credit score, which might make it harder for you to get a loan of your own.
Money issues can also strain family relationships.
Before co-signing, consider whether your loved one is reliable and if you’re confident he or she could afford the mortgage payments.
Decide whether the risks are worth helping your family member buy a home.
