So my gf just got a car over the summer for which her snobby, well-paid aunt offered to co-sign. Now the backstory is my gf was willing to babysit her aunts kids everyday for the summer while her aunt paid her roughly 500$ a month for the job. Well as most of you can agree, 500$ can not cut paying for gas, phone bill, and food for my gf to live off of so she did the right thing and got a better paying job so she could afford to live basically.
Well shit hit the fan when her aunt figured out that she would have to be responsible for her own kids and is calling my gf an ungrateful little bitch, selfish, yadda, yadda, yadda anyway, her aunt now wants to back out of being a co-signer and wants someone else to take up the responsibility.
I’m going to do it once I get a more stable job(temp right now) which should be within a couple months. Anyway her aunt now wants all the records of the loan, the account#, the receipts, everything because they are trying to buy a house. I could understand that since the bank probably wants records, but my question is does being a co-signer on a 9000$ loan when she has excellent credit and is making 70k a year affect her and her husbands ability to buy a new house when he is also making $90k+?
I can’t tell you how many nights I have been the shoulder to cry on because of this stupid cuntbag. Any thoughts/opinions would be helpful.
Oh and there was no written agreement for the babysitting job either, it was just a job before my gf found a better paying job and her aunt new that.
TLDR: Being the Co-signer of a car loan affect your ability to buy a house when you have excellent credit(800+) and at a cushy job?
Maybe. It might not prevent them from getting the home loan but a lender may want to see a record of payments to make sure that your girlfriend is in good standing since she’s on the loan.
Go to your girlfriends bank and request a letter saying that she’s in good standing. She may have to pay for the records to be pulled and reviewed though. Then give the aunt that document to give to her lender.
She took out a $9000 dollar car loan when she didn’t have a job? Don’t cosign for her. Don’t ever cosign for anyone except your own child that you raised to be responsible.
Oh, and being a cosigner on a loan can fuck your credit if your girl defaults on said loan. Her aunt is smartly covering her ass.
Not to be a dick, but this is reason #785906153 why you shouldn’t co-sign a loan. If your gf doesn’t pay back the loan the aunt is legally responsible for the debt, so I can see why the bank wants to know this and will potentially judge them on it when buying a house, especially nowadays.
Yes, see, the bank is smart. They know well enough to look into a person’s past BEFORE they give a loan. Also
Your g/f is retarded. If you co-sign that loan for her, you are retarded.
edit: wait, did she already get the loan? how can she back out now? if she already got the loan, then why does she need you to co-sign? Do you know ANYTHING about the lending process?
At the same time the aunt should realize the deal she was getting on child care and maybe dial back the cunt-o-meter a bit. I’m spending $850 a month on my one kid in daycare.
I agree my gf jumped the gun with buying a car however everyone in her family was pushing her to get a car yet none of them were willing to offer to help with the down payment except me. She is not in default since I’ve been reminding her to make payments and to limit spending until she gets done with school.
I agree never to bring family together with money. This whole situation has left a sour taste in my mought with her family
The only thing dumber than an aunt cosigning is a boyfriend.
I don’t care how much you love this girl, you’re not legally bound in any way with the bf/gf status. If you break up and she defaults you’re going to be stuck with this loan.
Most places even say, don’t ever cosign for a loan even if it’s your child or spouse.
I was reading it and was like wtf? really?
I think that’s a bit stiff… but meh.
I know my girlfriends parents got shafted with her brothers car loan that they cosigned for ~5k… Twice… and they had to pay it all off.
So I can see where people come from.
I wouldn’t cosign on a loan for my girlfriend at all…
especially when she’s always texting me, omg I almost just quit my job right now.