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How will co-signing a mortgage for your mother effect your chances of getting a home of your own at a later date?

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2006-02-19 02:12:50
2006-02-19 02:12:50

Co-signing a mortgage will put the debt on your credit report as well as hers. If your credit is bad, it will help improve your credit, however the loan may affect your chance depending on your income and whether the mortgage is still being paid when you apply for a mortgage. Before co-signing make sure you talk to a mortgage consultant who would be able to answer the question to your specific situation.

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The two phrases refer to exactly the same thing. No need to worry, they have the same legal effect.

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As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer


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