Co signer on daughters home

Hello and welcome to the forum. Yes, unfortunately, that will affect your credit.

Hi Lana,

You said that you have co-signed in your daughters home which means that you are also liable for the home loan which took. Now if your daughter could not make the payments then the lender will catch you for the payment and thus it will effect your credit as well. If you want your daughter can go for loan modification where the lender will provide an easy re-payment plan to your daughter. I hope this will help you.

Lana, you didn't do your homework properly, it seems. Before you cosigned for your daughter, you should have made yourselves aware of your liability. A cosigner is a borrower. That means that you are 100% liable for the payments on that loan, as is she. It's not simply a matter of "if she doesn't pay," as the lender can send you a bill just as easily as they can send her a bill for the monthly payment.

That's not done in real life, but you will need to be aware of any difficulties she has in making payment, so that you can prevent problems before they occur rather than when it's already too late.