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Egwdone

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we just refinanced our house now my daughter wants me to cosign for her house good or bad idea

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Don't do it!!!  If she can't qualify on her own, turn her onto this great website:   www.naca.com.  It's a non-profit company that helps middle-lower income folks get homes, and credit scores DON'T MATTER!   No down payment, no closing costs.  You do have pay naca a monthly fee of $50.00, but that's pretty cheap.  Interest rates are 4% with them, so they aren't a ripoff.  This way you're still a hero without putting your credit on the line.  Best of luck!

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BAD--Never cosign!!!

If someone can't qualify for a loan/mortgage without a co-signer, they are a bad risk and you should think twice (or more) about co-signing unless you are willing to take on the debt.  No matter how much your daughter promises to make the payments as required, that often doesn't happen, and a lot of hurt follows.   

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don't do it!!

I co-signed on my step daughter's mortgage and her dad and I got a divorce.  I can not get off her loan unless she refinances or sells the house and her credit is so bad she can't refinance. She missed some payments and we paid them for her, but they still went against our credit scores  because the payments did not come directly from her.  Now I am trying to get my own mortgage and going through hell because of this. 

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