So tonight my husband comes in from walking the dog and tells me his mom dropped a bomb…i’m like what is it? He goes on to say that his mom is trying to buy a house (which he mentioned a few days ago). So she went to see if she qualified with my husband’s younger brother and of course they don’t qualify because they don’t make enough (his brother works part-time and lives with her). Well my husband say’s his sister can’t help because she’s tied with the house she bought with her fiancé 2 years ago. …his sister’s fiancé can’t help because he wants to buy another house and is self employed (which I don’t think being self employed has anything to do with it) so his mom asked my husband if he could be a cosigner. He asked me what I thought and I said no. He’s like “just think on it” and I’m like no, I don’t need to think on it. Like we want to buy a house this year. I’m so pissed she would ask him and the fact that he would consider it. We have a 1 year old and live in a townhouse I bought before I met him. We plan to get a bigger house since we plan to have more kids and are outgrowing our current house. It’s not the first time his mom has asked him and he always has told her he can’t because we want to buy a house but today he seemed disappointed I said no. Am I in the wrong?
UPDATE: Thank you everyone for the feedback. It’s clear that cosigning is not a good idea. He agrees that it’s not a good idea.
So his mom told him this morning that he can’t cosign because we live in a different state from her. So that solved the problem and I don’t have to take the blame for saying no. I think she should buy a house she can afford (like a single family) if she really wants to buy or just wait until her husband can help contribute.