     Christine Baker (Admin) | Wednesday, April 18, 2001 - 02:26 pm 
Most likely it will affect your credit, not only if he pays late, but you'll have an inquiry and a new account and the outstanding balance lowering your scores AND added to your loan app.
Wait until you're refinanced because the lender will probably run your credit just before funding and a new account might cause a problem.
Cosign ONLY if you know he'll pay ON TIME or you're willing to pay for him.
While anything could happen to anyone to cause payment problems, he needs to understand that YOU will rather make the payment yourself than ruin your credit.
If you have any doubts at all, YOU make the payments and he pays you OR the monthly statements goes to your address OR you call every month to see that the payment was made. |
