I need help.

[Michael M.]

Disclaimer: Given the difficult residential lending environment in place today, I would hope to not throw money away on an apartment, but rather provide housing for myself and a few family members. It is not my intention to commit fraud, nor do anything illegal. I have a clean record and 792 FICO. I have enough for a down payment, but I just quit my job. My W2 income is awful. My question: Myself and a few family members are looking for a place to live together. I see this as an opportunity to acquire my own home. I'm not currently employed but I have a down payment. My family members earn a decent income. I am considering the following: I put a down payment on a house, get two family members to co-sign the loan, not charge any rent to either for one year. After one year I would refinance the home and remove both cosigners of the loan. At all times I would be the only person on title. My exit strategy is to rent the home out should I be unable to secure employment after a year. Please advise.