My mother would never do this. Parents should take care of their kids not ruin them

Sometimes you have to do what you don’t want to do

In this case you don't and buying a house is the obviously worse option

Why not pay towards a house that will be yours after?

another one is coming, it always happens

especially due to the big bubble that’s waiting to pop

FREEZE YOUR CREDIT NOW

Yeah ok 💀

I mean if she the one paying for it monthly sounds like a f***ing deal to me lol 🤔 credit score booms plus u have a paid off house in 15 years

He has no money neither does her & he's about to start college & be away without any spare time.

Just because you have good credit doesnt mean the house is paid for. He aint rolling up with 300,000 in a bag.

Youre only paying to get the keys.

Mortgage aint the only thing either lol. Utilities, insurance, car(s), HOA, taxes, food etc.

What happens if you cant keep it up? Debt, credit hole & many other things that are hard to recover from that many never do. And he's also trapping himself in one spot for years unless he wants to sell at a loss, & again, he aint even started college yet.

It means nothing if your wage cant support it. Credit isnt where it stops. It only gets the door open.

I feel for you but let this be a lesson learned about taking control of your own life. Sitting back paralyzed by situations like this can ruin your life. Do not sign off on that loan. Do what you can to stop this or live a life of regret. Your mother will get over it. Though, I’d question the love of a mother who would do this to their child

@op

I made some stupid decisions in 2017 (I was 18) that STILL effect my credit today

It is so vital to start your adult life with a solid financial foundation, so to see people itt saying declare bankruptcy among other things is crazy out of touch

With finances ALWAYS take the legitimate route, it is never worth the risk because the consequences will hamper you for years to come

Ultimately you know your mothers character best, but from the information you've given us, even if the initial down-payment is a success, her own financial inaptitude is likely to cause issues down the line. Not only that, but it's unfair on you to have go off to college with the constant worry of if your mother is upkeeping her payments for a house that is a state away.

I think before you pursue professional legal and financial advice, you need to have a conversation with her about the implications of this. You have no chance of preventing this if you don't communicate, as a user said itt previously, just because you are stopping her from doing something doesn't mean you don't love her. This is such an unfair pressure to have placed on you at the age of 20, but before you even get into the financial specifics, you need to have a one-on-one with her. Transparency is key with stuff like this, there is no point hiding how you feel, you really gotta lay it all out for her

I hope everything works out for you fr

That's not how it works. The down payment and interest rates determine his monthly payment which can be lower than rent. There isn't a set price for rent, can't believe you're even trying to argue this.

He's saying renting an apartment for a few months is cheaper than taking out a whole ass mortgage on a home

I’m talking about on a monthly basis. Again, a person can sell a house after a few months, Idk what’s so difficult to understand

Good post

You need to read better

We don’t know OP in real life

He’s gon do what he’s gonna do

So if he does choose to get the house (even if it’s against his will) then that’s what he should do (hustle) so he has the extra money to pay for it

What are you talking bout duke

He wouldn’t have made this thread if it wasn’t pretty much said n done

who knows how the market will be a few months from now though. you can't flip a house willy nilly like that without any research.

we don't know much about the house or if it's overvalued

Niggas on this site got a comprehension problem it’s real bad

lol, if the only reason for this is that she doesn't want an apartment, you better make her get an apartment

if its a case of homeless vs not homeless its different ig

It's def overvalued rn

I’d threaten to report the lender for predatory practices.

OP made the thread because he feels pressured by his mother to buy the house. Clearly he doesn't want to and it's not the smart thing to do. Also like he said he's a 20 year old before college. He wouldn't have house money especially if his mother is poor.

I read the thread and it doesn't seem like it's said and done. He still has to approve buying the house and he's gonna have to stand up for himself and say no.

OP is not even gonna live in this house. What benefit to him is to buy a house at 20 when he's gonna have to pay for school and his own well being?

Why would you buy a house and then immediately sell it? Very stupid decision.