I bought house with FHA, now my cousin's house got foreclosure, Can i co-sign him to buy other house with FHA?

ziggie makes a good point.





Your cousin's house is in foreclosure because he didn't make the mortgage payments like he was supposed to.





If you co-sign another loan for him, how can you be sure he'll make the payments? And if he doesn't, then the lender (the FHA) will come after YOU for the money, and YOU'LL have to make the payments on his house as well as on your own. Can you afford that? If you can't make the payments on both houses, then BOTH houses -- yours and his -- could both wind up in foreclosure, and you could lose your house as well as your cousin's.





Think VERY carefully before you do this!I bought house with FHA, now my cousin's house got foreclosure, Can i co-sign him to buy other house with FHA?
Rachel is right, you will be held liable for your cousin's mistakes. My advice to you is never co-sign for anyone other than your own child. There is nothing positive that can happen here for you.





http://www.dreamhomefinancing.com/I bought house with FHA, now my cousin's house got foreclosure, Can i co-sign him to buy other house with FHA?
well i suppose you could but your cousin souldnt pay on his or her house before what makes you think that theyd keep up on the payments this time???