Posts from November 16th, 2020

I'll admit it, I had an awesome childhood.

I mean, I might have the coolest parents in John and Jackie Burgan. While they made my childhood, and even now into my adult years, fun and rewarding, they were also very committed to "tough love" when needed. Like when I got my first car and my father wouldn't cosign on a loan for me.
"What the hell, JB?" That was pretty much my reaction.
But even at that young age, my father explained to me why he will never cosign with me on anything, especially a house. While I didn't understand it then, I now realize that father really did know best, especially when it comes to cosigning on a home for your child. Cosigning puts more than your child's dreams of owning a home at risk.

RISK TO YOUR CREDIT
You've risked everything for your children: don't risk your credit. When co-signing on a home, you become the person on the hook for the loan. If your child doesn't make his / her payment, the bank is coming after you. As a cosig...

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