So we are stuck in a small town we hate and would love to move back to Phoenix, but we are not sure about changing jobs, moving, insurance, ect. Well my MIL and FIL offered to co-sign for us to buy a house (We both have bad credit history) It is less then 5 years old, 3 bedroom 2 bath only $66,000. It would be great I would be close to my mom and friends again, I could go back to work (I hate being a SAHW) but there is only one problem. The house is next door to his parents. I don't hate them I just have a issue because his family is really close and I know they would be over ALL the time and they never speak english (I don't understand spanish). Should I suck it up and do it for the investment and to have my life back? Or is this a really bad idea?
Re: What would you do...
I'd personally never take co-signers on a house.
But that's me. I worked with first and second mortgages and I've seen way too many bad situations come from that.
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This..You say you dont hate them...you will..LOL..You will mean well..but trust me .. they always tend to overstep .. GL
I think there are a lot of potential issues here. My biggest concern right now would be the insurance. It doesn't sound like you're working right now, so I guess you rely on your husband's insurance? If you buy this house and move, where is he going to work?
Personally, I would be worried about having to change insurance and doctors and start somewhere new mid-pregnancy. And second, it seems backwards to buy the house and then have to look for work. Better to get the job lined up (where you know if you are insured and what the benefits are) and then worry about buying a house and moving.
Third, I think co-signing is a bad idea. It might make your inlaws think they have more rights than you would like -- like coming over all the time or being more outspoken about your plans for the house.
Fourth, I could never live next door to my ILs, and we all speak English. Just. no. ;-)