Home Buying in 32169>Question Details

curtissaturn, Home Buyer in 32169

BF wants me to co sign yet sign a form so I cant go after money if we break up. What If I have to cover a payment? Can I get that back?

Asked by curtissaturn, 32169 Tue Oct 22, 2013

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5
You should consult an attorney.
2 votes Thank Flag Link Tue Oct 22, 2013
should I get a Florida attorney or one for P.A. the state where the home is?
Flag Tue Oct 22, 2013
If you get an attorney it should be in the state where the property is located. I would be questioning the relationship.
1 vote Thank Flag Link Tue Oct 22, 2013
Let me elaborate: His boss and long time friend is going to loan him $50,000 and the house is only $110,000 that way he will have a low payment. That is why he wants me to sign something stating if we break up I will not go after anything since I am putting no money in just my name on the loan since my credit is very good. I fear that if he died or could not pay that to keep from having late payments I would cover the monthly payment but then be out that money when he sells or his family sells if he passes.
Flag Tue Oct 22, 2013
Bravo Melissa, tell'n it like it is.
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It what you describe indictative of what you MUST see and require in any relationship....
...Respect and Honor in all things?
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Make sure you are willing and able to 'kiss that money good-bye' 'cause someone else is making exactly the same preparations.
1 vote Thank Flag Link Tue Oct 22, 2013
I'd be very careful before co-signing anything. Get the advise of an attorney as it is my opinion you will be held responsible for all payments, damaged credit and lots of hassle if your BF decides to quit paying and skips out on you.
0 votes Thank Flag Link Tue Oct 22, 2013
clearly you think it is a bad idea, tis why you are here... what do YOU think you should do?
0 votes Thank Flag Link Tue Oct 22, 2013
I think I should have a document stating that if I have to cover any monthly payments he cannot make for any unforseen reasons that if he passes away or sells the house I should be compensated only for what I dished out to protect my credit. It is a messy subject but at the same time I would benefit by having my credit show a large loan for if I ever want to purchase my own home one day.
Flag Tue Oct 22, 2013
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