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I just got a text from my DD. She put us down as co-signers on her lease!
First, what's that got to do with the mortgage board? We are closing on our house Friday! We were approved for the mortgage by the skin of our teeth. We are holding our breath closing goes through. We don't even want to put anything on a cc or make any bank transactions until it closes. Facts---
Our dd is 20.
She moved out about 5 years ago and has been living with her BF.
She does have a job, but just min wage and she barely scrapes by as it is.
She seldom has anything to do with us, we rarely even see her.
We did tell her under NO circumstances would we co-sign ANY note for her or cosign a lease. We also told her if we cosigned a lease or note the mortgage company would consider that our debt, since it could if she defaults. She doesn't seem to get it----she needs a co-signer, and we are NOT it!
I told her to have her BF be the co-signer!
Problem is, she says she already sent in the application with US down as the co-signers! Now what? We never signed anything and she signed us without our permission!
Since our mortgage is signed and set to close, should I tell the mortgage company about this, or keep my mouth shut?
This isn't my first closing, I know the drill. Somewhere in all that paperwork is a statement that nothing has changed in our financial status since applying for the mortgage. Well, I suppose I can sign that nothing has changed. WE did NOT co-sign any lease application. Our DD signed our names for us! Just to get the application in progress, since its a tight housing market We KNOW that, we are dealing with a tight market, too!
I think best to simply say nothing. As I remember from my Business Law courses, " a forged endorsement is NO endorsement" You don't just sign someone else's name without their permission and think its ok! Trouble is, I think she knows our SSN, or, at least DH SSN.
Like I said, I texted her back that we are NOT in a position to co-sign any notes, ask bf. I've been after her for years to establish credit, I offered to buy her a secured credit card so she could get started, I've begged her to go to school---she dropped out to run after BF. Now, she wants to live the "good life" and wants us to co-sign? I think not!
Nothing is going to happen as you would be required to fill out applications and give permission to run background checks. If she gave that info (SS etc) and goes through with it it's FRAUD. And I would tell her that if she does it you WILL absolutely prosecute.
My mom asked me to consign for her. I refused. I gave her some money she needed rather than coding. The only person I chiding a loan with us my wife. Nobody else. Ever
I can tell you that I dint run anyone's application until I
speak to them
Get applications
Get signed permission to run background check form
Get copies of dl and SS
I use TransUnion smart move and Cozy which put the background check on the applicant. I just get the results
Last edited by Electrician4you; 06-28-2017 at 06:51 PM..
We've cosigned for two of our boys on multiple items. Only one of them was witnessed and that was the car loan. All the apartment leases could have been forged without our knowledge if our children had decided they wanted to risk their life with us - seriously, she was way out of line.
Short and sweet of it - no you are not liable. Is it likely to cause an issue with your mortgage, doubtful. But if it does, you can fight it. That said, you need to figure out how you are going to approach her putting you on as co-signer. Now that you are aware of it, playing ignorant is a risky call. Technically you didn't sign it but your absence of response once you became aware of it could be determined as acceptance of the contract she made by signing you as co-signer.
I co-signed for my son's lease and it was not as simple as "putting me down as a co-signor". I had to sign the actual lease, they ran my credit, had to get something notarized, the whole deal. Sounds like your daughter's landlord is more informal. Nothing in real estate is binding without your signature.
Sounds like your daughter put you down on the application and the LL will be contacting you to do the process....including credit report etc. and then your daughter may or may not get a lease on this apartment.
Just don't do the paperwork. You've told your daughter, so when the paperwork comes, contact her and tell her that you're sending the paperwork back and are not completing it.
I am against trying to do something legal....if you do your daughter will have a felony and possibly 5 years if convicted. It sounds like she put your names down....not like she forged your signatures, LL's do have a process for checking out co-signers....otherwise tons of people would simply put someone's name down.
I doubt, at this late date, this will be a problem with your mortgage. Your credit has already been pulled for the mortgage, and the papers are already being prepared for closing. As a rule, not too many companies check credit 48 hours before a closing, but you could get unlucky and be one that is pulled for a random check.
Meanwhile, I would tell your daughter, in no uncertain terms, in writing, that you are NOT co-signing for her lease, and if she puts your name down, she's going to have to explain it to the police. Just a thought -- are you sure your spouse didn't give her permission? Sometimes, one parent is more soft-hearted than the other. Find out who she sent the paperwork to, and send them an email telling them that your daughter put your name on the lease without your permission, and that you are NOT co-signing the lease.
Call the apartment where she's signed the lease and tell them you didn't sign it and are not going to be responsible as the co-signer. Then send them a certified letter.
This.
The drama doesn't fall far from the tree in this family. SO many words and exclamation points for a very easy fix...
Hmmm..So by the Op's mindset, I could put down Mr Rockefeller as co signer and viola! My lease is golden. Luckily co signing requires id,signature and acknowledgement of the contract terms. None which you have directly participated in.
I doubt, at this late date, this will be a problem with your mortgage. Your credit has already been pulled for the mortgage, and the papers are already being prepared for closing. As a rule, not too many companies check credit 48 hours before a closing, but you could get unlucky and be one that is pulled for a random check.
Meanwhile, I would tell your daughter, in no uncertain terms, in writing, that you are NOT co-signing for her lease, and if she puts your name down, she's going to have to explain it to the police. Just a thought -- are you sure your spouse didn't give her permission? Sometimes, one parent is more soft-hearted than the other. Find out who she sent the paperwork to, and send them an email telling them that your daughter put your name on the lease without your permission, and that you are NOT co-signing the lease.
They hit my credit one more time right before closing. I know because Lifelock alerted me.
Well, I found she wrote our names down as co-signers, but didn't actually forge our signatures. She also didn't put our SSN or anything else that would enable one to pull our credit. Like I said, we barely qualified for a mortgage and are holding our breath until closing. I told her we will NOT co-sign any loans. Like I said, let BF co-sign. Its a long story, but we don't feel comfortable signing for someone else, even if its is our daughter. Its time she learns to be a "big girl".
Well, I found she wrote our names down as co-signers, but didn't actually forge our signatures. She also didn't put our SSN or anything else that would enable one to pull our credit. Like I said, we barely qualified for a mortgage and are holding our breath until closing. I told her we will NOT co-sign any loans. Like I said, let BF co-sign. Its a long story, but we don't feel comfortable signing for someone else, even if its is our daughter. Its time she learns to be a "big girl".
Just writing your names down as co-signers would not have any legal validity - and the apartment folks would know this ... if they required a co-signer for the lease. Either they did not require a co-signer ... or you are not getting the complete story from your daughter. If she actually did 'sign' on your behalf, you need to know and take steps to protect yourselves (and her).
As #10 suggested, contact the apartment management and ensure that THEY understand you are accepting no legal responsibility for this lease or as a co-signer. You will then need to follow this up by mail ... with a copy to your daughter.
There are numerous threads on CD about co-signing for other people (parents, children, others) -- It NEVER turns-out well. Typically, there is always a reason when someone is unable to qualify for a financial obligation without a co-signer.
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We KNOW that, we are dealing with a tight market, too!
