Who agree's??

[tacpoly]

---

@Anonymous wrote:

I agree... I have learn my lesson the hard way.  I laughed when a friend asked me if I can co-sign a mortgage lol.. I said get off whatever you are smoking... An insane request.

---

A friend asked you to co-sign a mortgage?  For real -- they weren't joking? 

[Anonymous]

old rule of thumb never put out more than your willing to lose 

[Anonymous]

---

@tacpoly wrote:

---

@Anonymous wrote:

I agree... I have learn my lesson the hard way.  I laughed when a friend asked me if I can co-sign a mortgage lol.. I said get off whatever you are smoking... An insane request.

---

A friend asked you to co-sign a mortgage?  For real -- they weren't joking? 

---

Nope, for real.  I thought you she was on something.  Real nuts.

[Anonymous]

To put light on this subject,  just watch "Judge Judy".   A lot of her small claims cases involve one of the two.   I have loaned money to family before and it has been paid back.     When loaning money,  you have to make it clear whether it is a LOAN or a GIFT.   Loans imply repayment.   Gifts imply no repayment.    I am a big fan of doing loan letters, signed and notarized.   If I do make something a gift,  I will be sure to write on the check either "Happy Birthday", "Merry Christmas", or "GIFT" on the memo line.  

[Anonymous]

---

@Anonymous wrote:

I agree... I have learn my lesson the hard way.  I laughed when a friend asked me if I can co-sign a mortgage lol.. I said get off whatever you are smoking... An insane request.

---

Insane, indeed.    If anyone ever asked me to do that,  I would laugh so hard,  I would probably wet myself.    Why on earth would I co-sign for a mortgage when I don't have one myself?     

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

I agree... I have learn my lesson the hard way.  I laughed when a friend asked me if I can co-sign a mortgage lol.. I said get off whatever you are smoking... An insane request.

---

Insane, indeed.    If anyone ever asked me to do that,  I would laugh so hard,  I would probably wet myself.    Why on earth would I co-sign for a mortgage when I don't have one myself?     

---

Agreed.. I just concluded it was asked in desperation.

[Anonymous]

This situation happened between two good friends of mine.   Miraculously they are still friends, how I do not know.  

A (gave loan) and B (asked for loan)

B asked for loan to make down payment on house, A said ok as a LOAN and I know he made this clear.  And I am pretty sure B made it clear it was a loan also.  Payment plan per month was set up which it was not that much money per month, maybe $150 for X amount of months.  3 YEARS later on this he is still about $1000 short on a $3000 loan (he borrowed money from multiple people to get down payment I am told).

I think the worst part of all of this is B during all this time bought many other things, some things he bought he paid cash for and they were worth more than the value of what he owed A.  It's unfortunate what happened, I personally before this happened stopped associating with A very much due to his shadiness in general.  Not money wise, just on honoring commitments.

B was able to afford the loss, A is doing fine in his house.  He actually just bought a cabin on 3 acres but B is still out the $1000 owed...

[Anonymous]

Totally agree. My motto is: Never lend what you can't afford to lose.

If I'm letting you hold money, I have in my mind that I simply GAVE it to you. If I get it back, cool. If not, I wanted you to have it. There's nothing worse than that awkardness of having to ask your friend/family "Hey, you got that money I loaned you?"

[Anonymous]

Hi ,

But I think family is the only one to whom you can share any thing weather it is money or any think , in case of loan money to family is not too bad but friends and girlfriend are bad idea for giving money it's happens with me too . 

[Anonymous]

---

@Callandra wrote:

If you "loan" money to a friend or family member, it's best to think of it as a gift. If you get any of it back, consider it your lucky day! 

---

This is absolutely the best way to do it.