Cosigning covers more than just rent obligations.So I’m in an unusual situation, at least for me.
Currently self-employed, no steady paycheck coming in.
That’s not a concern, but suddenly adult child needs me as a cosigner on their rental lease.
In the past, they had a small part-time job and was showing that as evidence.
Now, without that, they’re asking for me to cosign. But I have no pay stubs either!
How have other self-employed parents handled this situation?
Should I just show last year’s 1099? bank statement?
I want to be prepared for what the landlord asks.
Never been in this situation before as I was fully employed when getting mortgages on past homes, current home fully paid off.
Thanks in advance!
Make sure you understand your liability exposure and are adequately insured. I would think your existing policies exclude liability assumed contractually ... which I think cosigning probably is contractually assumed liability.
Statistics: Posted by WalkingBackToHouston — Wed Mar 12, 2025 4:29 am