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Updated about 10 years ago on . Most recent reply

User Stats

30
Posts
17
Votes
Drey S.
  • Rental Property Investor
  • California, CA
17
Votes |
30
Posts

Tenant with LOADS of Medical School Debt (payments deferred)

Drey S.
  • Rental Property Investor
  • California, CA
Posted

Hi there,

We are currently screening for a 2/2.5 condo in Newport Beach at $2795 and I'm wondering about the co-signer on the property. 

Is it normal for a young Orthodontist to pull 20k/month but have almost 700k in student debt?  The 8-10 student loans are Sallie Mae - and most are deferred with $0 monthly payments, so his credit is actually 780.  I've never seen this much debt on an application, but I'm not sure if I'm overreacting.  He's co-signing for his mom who makes 8/k a month selling time shares (which seems unstable to me - but what do I know?)

Any ideas or insight would be nice to have.  Thank you in advance!

Most Popular Reply

User Stats

1,638
Posts
1,060
Votes
Cal C.
  • Investor
  • Peachtree Corners, GA
1,060
Votes |
1,638
Posts
Cal C.
  • Investor
  • Peachtree Corners, GA
Replied

Doesn't sound too promising.  How long has she been selling cr@p, sorry I mean time shares?

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