Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

3
Posts
2
Votes
Brady W myers
2
Votes |
3
Posts

HELP! Co-signer issues

Brady W myers
Posted

I’ll try to keep this short..

I started buying property in 2018 using a local credit union and my dad as a co signer. Things were going smoothly I’ve never missed a payment I’m on auto pay and have plenty of reserves I have a great payment history to this day.

However my main lender at this bank got promoted and a local family friend took his place, my dad is unwilling to continue co-signing with this new lender because he “doesn’t like to do business with friends”.. he also is done with this bank. he got emotional. So I can’t just switch lenders at this bank to make him happy. 

I have 5 mortgages with this bank and don't really want to refi with another one because I have such a low interest rate 4%. I'm looking at over 8% for DSCR loans.

That being said since the loans are already there and I never miss payments do you think I can tell the bank sorry my co signer is unwilling to provide and new information and just keep making the payments. Or do you think they will call the loans due because they don’t want to take any risks? 

This has been a very bothersome issue for me. Interest rates don’t help. I don’t know what to do at this point. Please any advice will help. 

Loading replies...