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That would entirely depend on how well you keep up the repayments... and if you failed the repayments, so long as he pays them, it will not harm his credit...indeed it may enhance it as it shows not only his ability, but willingness to pay off debt for which he signs. personally, i would NEVER put my own money in the hands of someone elses ability to pay... if you need a loan, and don't earn enough, so they want a co-signatory, then chances are grandpa will end up paying YOUR debt.. and there is nothing he can do, if you don't pay a penny, if he's signed up, unless he wants to lose his rating...maybe he feels the same way, and just doesn;'t want to tell you the truth about how he feels on the subject. It will show up on his credit bureau as co-signor and he would be responsible for repayment of this loan if you stop paying.

2006-07-25 21:23:44
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Q: If your grandfather cosigns on a loan for you will it affect his credit when he sells his house and buys another?
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