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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!
Did she "sign" for you? As in forge your signature? You put "Our DD signed our names for us!" Does she not know that's illegal? If she didn't "sign" for you, and just said/told them you will be co-signers, then I'm pretty sure there is paperwork where you have to sign and agree to be co-signer. You need to call the leasing office and say you will NOT be co-signing. Otherwise when your flaky daughter jumps ship on the lease, you will be left holding the financial responsibility for it.
I told my son we would not co-sign a lease. However, we did add him as authorized user on our credit card (and didn't tell him or give him a card) and then he was able to take out a small personal loan (like $2000?) that he put in savings and pays on monthly and now he has a credit score that is pretty nice.
Yes, that's what I thought. To cosign, you need to ..... S I G N.
So, did your daughter forge your signature? Did she steal your id, your ssn etc?
Better get one of those companies that let you know when your id is being messed with now that your daughter has reached the age of wanting big ticket items legally or not.
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!
Have people never heard of saying "I don't have anything to do with this?"
I mean, I realize it's several more words than "drama," but come on.
If you are a co-signer, you have to sign the document. If someone forges your signature, you are not responsible.
Often, if someone co-signs a document, it needs to be notarized or witnessed.
If you want to protect yourself, send a letter to the manager/landlord/whatever that you have not agreed to co-sign any documents. Having something in writing and documented is always helpful.
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.
Have people never heard of saying "I don't have anything to do with this?"
I mean, I realize it's several more words than "drama," but come on.
Seriously.
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.
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We KNOW that, we are dealing with a tight market, too!
