Renting Apt After Bankruptcy- Cosign?
My parents are going through a bankruptcy and a foreclosure of their home right now. My mom needs to rent an apartment to live in. They actually have income and can afford a place. I also make a very good income and have a very high credit score and own my own home.
Question is - for her to rent an apartment, would it be better for her to apply on her own and I and my wife cosign for her or should I just rent the place and have her live there?
Would the cosigning work in this case since her credit is obviously ruined?
- Sir JamLv 71 decade agoFavorite Answer
Easier if you did it - provided you have total faith in her ability and willingness to maintain prompt payments.
Many people's debt problems are caused by family members breaking promises or simply skipping town
- 1 decade ago
There's an easier way to get out of the home than foreclosure! And I'm not referring to a short sale either.
Tell her to go to htttp://stopforeclosure-tx.com fill out the form at the bottom of the page.
This is a group offering foreclosure help to homeowners dealing with the foreclosure process all over the US.
They are the real deal. I've attached a link from bloomberg.com explaining what they do.
I know that when they finish, there's no deficiency judgment, further credit dings, and best of all she could walk away with cash in her pocket.