The main issue here is that you and your brother are 2 single people presumably still living with parents. So say you bought a house with him for you and your parents to live in.... 5 years down the line brother decides to move out and wants his own place - but he already has a mortgage on the place you live at ? Then a year later you want to get married and again want your own place ? Again you are trapped. The house would have to sold and parents are back to renting.
Bottom line, your parents got into debt and they need to deal with the consequences. Unless of course you can say that you are happy living with parents til middle age when you pay off the mortgage
Of course not.
For one thing - if you and your brother buy it on your credit - you are the owners - not your parents. They would be renters. Or roommates. Whatever your living situation is. You cannot use your credit to buy a house and put it in their name.
If you and your brother qualify for a mortgage - and live with your parents - you and your brother have to make these payments for the duration of the mortgage - or until you sell it. If parents decide not to chip in on the mortgage - then it's all on you to make the payments.
If in a few years - you get married and want to buy a house for yourself - you probably won't be able to - as you already have this mortgage.
No, they are deadbeats and will ruin you children too. Don't even buy a house with your brothers to rent to your parents they won't pay the rent or utilities.
No, and personally I think it's a crummy thing for a parent to even ask of their children.
It got foreclosed because they didn't pay. You do it with them and they will ruin your credit.
depends on ur ability ,do a favor for what u can do ,not overpass .
www.brandairjordan.com
No
Our old house got foreclosed so now we rent.My issue is, they want to use my credit, along with my brothers to buy another house . They have bad credit and owe money to the irs. The thing is we need to be stable and I want to help because otherwise we can't afford to keep renting when it will never be ours.on the other hand I want to buy a house when I get married not share it be my own I don't know what to do please help
