Social Anxiety Forum - View Single Post - Family offered to take a loan in their name for me
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post #1 of (permalink) Old 09-15-2015, 04:52 AM Thread Starter
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Join Date: Sep 2015
Location: Norway
Gender: Male
Age: 30
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Family offered to take a loan in their name for me

My family and I recently bought an apartment together. Since they earn quite good they didn't have to pay anything for the loan. The bank lent them money for an apartment, they purchased it and now I'm paying down the loan eventually saving up money living instead of paying rent.

However the apartment is in their name. I'm 25. They legally "own" it and I pay my family each month the part of the loan the bank asks.

Over time if they/I wanted to sell the apartment, if it keeps its value I would keep the money I paid on the loan. Leaving me hopefully enough to invest in something myself.

However I might just be paranoid and anxietous. But I have no legal rights here. They could **** me over at any time and decide to keep the money themselves. Do you think I have anything to worry about?
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