brought to you by the every dollar app start budgeting for free today this question comes from

addy in oklahoma she says i'm writing because i have a bit of doubt about this situation

my mom wants to be a co-signer for me to be able to buy a property through an fha loan since i will be

a first-time home buyer i will be living inHA loan since I will be an first time home buyer. I will be living

in the property, but it will be divided and the other side will be rented. I was pre-approved for

$325,000. My mom and the realtor we are working with are telling me that we have to put offers on properties at full asking price but

I'm concerned about this I'm 23 years old I only make 36,000 oh I only make 36,000 dollars a year

as a medical assistant and currently owe $10,000 on student loans should I wait before I make such

a big investment yes yes Okay, let's look at

some red flags here. Number one, you make $36,000, $36,000 a year. That's quite low.

It's half of the national average.

Yeah, that's quite, quite low.

And you're wanting to buy a quarter of a million dollar house, over a quarter of a million dollar house, $325,000.

The reason you feel nervous and the reason that you feel like you can't breathe, because it's literally, like John Deloney would say, it's your body telling you there's something wrong.

And when there's something wrong, don't ignore ignore it let's look at what's wrong and you can see what's what the problem is here you understand that the

only way that you're getting this loan is your mom would be signing for that means if you can't get a

loan on your own it means that all of the loan companies know this is a bad idea, you can't pay.

And the only way that we mitigate some of this risk is we bring on someone who we think might be able to pay

when you won't be able to make the payment.

And in that case, this would be your mother.

And she probably thinks that she's being sweet for saying,

oh, I'll sign for you.

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