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  1. #1
    Join Date
    Sep 2019
    Posts
    4

    Exclamation Co Signer Want Out

    My question involves landlord-tenant law in the State of: riverside california

    I co-signed for my 35-year-old daughter so she and her kids would have a place to live. For three years things were going fine
    then she started partying and stopped paying her rent. She started paying her rent late and we didn't know where all her money was going to . Now she's 3 weeks late on the rent. I just bought a home 6 months ago
    and don't want to lose my home if she gets evicted. I fear my credit will get ruin along with my name listed as a co signer.
    I don't know what to do and have trouble sleeping at night. I know I should have not co-signed now and I am angry at my daughter
    for not letting me down. I don't know if there is a legal way to get myself off the lease or modifiy it. Thank you for your help

  2. #2
    Join Date
    Oct 2006
    Posts
    15,744

    Default Re: Co Signer Want Out

    Quote Quoting SarahBrown
    View Post
    My question involves landlord-tenant law in the State of: riverside california

    I co-signed for my 35-year-old daughter so she and her kids would have a place to live. For three years things were going fine
    then she started partying and stopped paying her rent. She started paying her rent late and we didn't know where all her money was going to . Now she's 3 weeks late on the rent. I just bought a home 6 months ago
    and don't want to lose my home if she gets evicted. I fear my credit will get ruin along with my name listed as a co signer.
    I don't know what to do and have trouble sleeping at night. I know I should have not co-signed now and I am angry at my daughter
    for not letting me down. I don't know if there is a legal way to get myself off the lease or modifiy it. Thank you for your help
    You won't lose your house over this. They already gave you the mortgage, they can't take it back. However, the only way not to hurt your credit is to pay her rent if she doesn't.

  3. #3
    Join Date
    Mar 2013
    Posts
    17,288

    Default Re: Co Signer Want Out

    Quote Quoting SarahBrown
    View Post
    I don't know if there is a legal way to get myself off the lease or modifiy it.
    Did you keep a copy of the first lease that you co-signed? If not, get it. It's critical for you to determine if your signature carries over to new leases every year.

    Did you sign any new leases when they came up?

    It's remotely possible that you are no longer obligated. But I'm just guessing.

    Get the first lease and have it checked out by a lawyer.

  4. #4
    Join Date
    Jul 2018
    Posts
    1,796

    Default Re: Co Signer Want Out

    This is what you agreed to, so you're stuck, unless she is on a month-to-month lease, in which case you ought to be able to terminate your guarantee by giving the landlord 30 days' notice. If she's not on a month-to-month lease, then you ought to be able to give the landlord notice that you're terminating your guarantee as of the end of the current lease term. In the meantime, the way to protect your credit is to do what you agreed to do: pay the rent in the event of a default by your daughter.

  5. #5
    Join Date
    Jan 2011
    Posts
    303

    Default Re: Co Signer Want Out

    Per your other thread this problem has been going on for a few months, it looks like it's getting worse, and you can't afford to pay rent on your daughter's place plus your own expenses.
    https://www.expertlaw.com/forums/sho...4611&p=1125065

    Are you planning on applying for a line of credit any time soon, such as to purchase a car? Do you carry a balance on your credit cards?

    If the answers are both no then a hit to your credit score at this time won't hurt very much. Your interest rates on your credit cards may go up but if you don't carry a balance that's not going to affect you. Insurance companies may also calculate premiums based on credit scores (higher score = lower premium), but the difference is likely to be a lot less than continuing to pay for the rental.

    You may find it necessary to just suck it up, take the eviction/credit hit, and pay the landlord whatever he is awarded after your daughter is evicted.

  6. #6

    Default Re: Co Signer Want Out

    Agree with what everybody else said. You could also sue your daughter for what you paid out but make sure to do everything in writing, because if it's not in writing it doesn't exist.

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