A decision that was made 4 years ago had caused me lost credit score from bank.

A decision that was made 4 years ago had caused me lost credit score from bank.

Just would like to share my situation with readers, if are searching or googling something similar.

I had a joint loan with my sister, for a condominium named under my sister and brother in law. Why is that so? At the time of purchase, my brother in law had already own second house, and if were to loan for a third house, his joined loan with my sister would only be around 70%. Hence, he asked to use my name for it, and it was a total disaster to use my name now, for a house that I did not own.

Bank would not recognized that as our internal settlement. Bank would not know that my joined loan with my sister for the condominium is not wholly under my commitment. It was a joined commitment divided between 5 person. Each has to contribute a small portion and this, is not made know at all with bank.

This loan of mine, which I do not even own anything from it, had made me realized that, you should not easily agree to use your name for loan, even if that's your sister husband, your brother in law, as he is just related to you by law. He has nothing to loose, if anything went south. I had regretted on this, ever since I know I will have harder time to apply for a loan; all no thanks to my brother in law.

You know what's the best part of it? I am going to be jobless soon, and he is asking me to move out from his house. This is what we call related only by law. They can put relative, relationship near to their mouth, but never to their heart. Therefore, if any of your related only by law is asking you for any loan or whatsoever, please bear in mind that they had nothing to loose and we can lost everything!