Family offered to take a loan in their name for me - Social Anxiety Forum
 
Thread Tools
post #1 of 3 (permalink) Old 09-15-2015, 04:52 AM Thread Starter
SAS Member
 
Fight's Avatar
 
Join Date: Sep 2015
Location: Norway
Gender: Male
Age: 29
Posts: 81
My Mood: Angelic
Question

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?
Fight is offline  
Sponsored Links
Advertisement
 
post #2 of 3 (permalink) Old 10-19-2015, 05:48 AM
Permanently Banned
 
Join Date: Jul 2015
Posts: 2,721
I can't say if you have to have worries about your family "****ting you over" as I don't know them but if you are really that worried about it, start saving some extra money just in case.
Just so you don't have to bother about it and concentrate on your life etc.
Orbiter is offline  
post #3 of 3 (permalink) Old 10-19-2015, 06:20 AM
Estoylistoparalamuerte
 
SofaKing's Avatar
 
Join Date: May 2014
Location: Someplace sofaking awesome
Gender: Male
Posts: 8,849
My Mood: Lonely
There are two issues here. Yes, families sometimes do horrible things to other family members when the chips are down or when there are multiple siblings, etc. Should you worry about it? I have no idea, but keep precise records on all the money you are paying back and consider the following:

I don't know how it works in Norway, but in the US, you build up a "credit rating" by showing you can responsibly take on debt and repay it. This means you do need to have loans in your name that you repay. The fact that you're paying down a loan that isn't in your name may not be doing anything to help prove your future credit worthiness when you decide to need a loan.

Quote:
“What if this is as good as it gets?” - Melvin Udall
SofaKing is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Can't bear with my country and family HDSFML Frustration 1 09-21-2015 03:00 PM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

 
For the best viewing experience please update your browser to Google Chrome