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Kathyq91

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Student loan and home loan dilemma
My mom wants to buy a house and put me as a cosigner, I just recently took out a student loan and have her as my cosigner. When I graduate in one year I plan on buying my own house in 2-3 years. Should I put name for the house loan? Is there a way to take my name out of the contract after a year or so?

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I don't recommend this.

Mom wants you as co-signer on loan, but a co-signer actually promises that they will pay the loan if the original borrower defaults.  And they have to have a good credit score to co-sign. 

And she just co-signed your student loan, so getting you as co-signer on house likely isn't going to work.

I do not like co-signing anything because doing so obligates me for someone else's credit errors.  I have enough to do to keep my own credit score up.  And most financial advisors also disapprove of co-signing due to the risks.

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