Co Signer Want Out

[SarahBrown]

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

[llworking]

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.

[adjusterjack]

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.

[pg1067]

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.

[bcr229]

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.

[JustMe10628634]

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.