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@PEI

is it feasible to help my friend to buy a house in this way?

sillymm(silly)
One of my friend who trust me is going to land recently. She wants to buy a house. but because she has to pay at least 25%-35% for down payment which she cannot afford, since she has no income and no credit. so she want me to get the mortgage for her with my name, then, she will pay about 5% for down payment. She planned to rent the house for monthly payment. She has no problem with the house under my name. we have known each other for a long time. she might go back after get her citizenship. But i know nothing about buying and maintaining a house, plus i won' t live with them. i doubt this is feasible. Anyone has any opinion? Thanks a lot.
(#1371819@0)
Last Updated: 2003-9-16
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  • 枫下家园 / 住房话题 /
    tor
    Toronto Area
    is it feasible to help my friend to buy a house in this way? -sillymm(silly); 2003-9-16 {651} (#1371819@0)
    One of my friend who trust me is going to land recently. She wants to buy a house. but because she has to pay at least 25%-35% for down payment which she cannot afford, since she has no income and no credit. so she want me to get the mortgage for her with my name, then, she will pay about 5% for down payment. She planned to rent the house for monthly payment. She has no problem with the house under my name. we have known each other for a long time. she might go back after get her citizenship. But i know nothing about buying and maintaining a house, plus i won' t live with them. i doubt this is feasible. Anyone has any opinion? Thanks a lot.
    • 只要你的朋友愿意出钱，又不怕房子最后被你骗走了，有啥不干的，干！她付５％，你付２０％当？ -baygirl(冰淇凌); 2003-9-16 (#1371831@0)
      • no, i have a job, so if i don't need to pay 25%. -sillymm(silly); 2003-9-16 (#1371885@0)
        • 噢，那是不是只用你的名字，经济上的事情全是她来？有一个小问题，你这么折腾一下，把你自己第一次买房的这“第一次”也折腾没了，你有啥好处呢？就全为友情奉献了？ -baygirl(冰淇凌); 2003-9-16 (#1371905@0)
          • i don't expect -sillymm(silly); 2003-9-16 {29} (#1372428@0)
            to get any benefit from this.
    • If i were you, I will think twice. What if she can not make mortgage payment on time (can not afford or just do not want to pay)? Are you going to pay for her? If defaulted, it's YOUR credit rating at risk. -mutantx(阿吉); 2003-9-16 (#1371892@0)
    • look for trouble. can she repay all mortgage in 3 years? what if she can not get tenant to cover up cost? -tarzan_m(泰山®); 2003-9-16 {75} (#1372053@0)
      forget such friend, so stingy, dont even want to pay rental, can not trust.
    • 友谊, 就这么被楼上这帮人折腾完了 -m30(m30); 2003-9-16 (#1372067@0)
    • 你能保证出租收益的稳定吗？如果不能及时还每月的贷款，银行会拍卖房产。拍卖的价格可能是房价的65%，不够的部分用你的信誉还。想想吧。 -holly999(酒肴肴); 2003-9-16 {96} (#1372173@0)
      另外，你朋友不想在加拿大住，为什么给你留这样一个乱滩子呢？以后的移民越来越少了，出租不可能稳定。
      • Thanks. -sillymm(silly); 2003-9-16 {105} (#1372425@0)
        Thanks for all the replys, i guess she doesn't know how things work here, and just think i can help her.
        • If you really want to help your friend, could you lend her/him %20 for the down payment? (just a suggetion, you do not have to do it). -laedon(laedon); 2003-9-17 (#1372665@0)
    • 即使你们之间目前绝对信任，也不可这样做，否则后患无穷，只能空丧友谊 -d2o(尘埃：空望旧山川); 2003-9-16 {218} (#1372466@0)
      1业主是你，他只付5%，当房价大幅变化时、当房屋将来再过户时，极有可能产生纠纷；2税务问题，因为要出租；3当你要买你自己的住房时，贷款机构认定的还款能力因第一套住宅的存在而大打折扣；其实，有些机构做新移民贷款，15%down就可以
    • 朋友都不能住在一起，这是多少人的经验总结，更不要说合伙买房了。 -guest1(guest); 2003-9-17 (#1372662@0)
    • If u do that way, the mortgage is under your name, if your friend cannot pay the mortgage, either you continue to pay, or bank will auction the house. Then what will you get? --- your name SILLY MM. -niumewang(㊣Niu Me Wang); 2003-9-17 (#1373349@0)

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