Is it safe to go on Welfare if I co-signed on a house for my mother?

Question

I am struggling in my apartment, keeping up with rent and not having a stable job, I may need to apply for welfare, would they allow me to be on the program even though I had co-signed on a house for my mother? I don't and never had made any payments on it, I don't even live there, any advice?

Answer 1

Welfare doesn't care if you co-signed for the house (you're not on title, are you?)

Now how the mortgage company feels about it is another matter.

Answer 2

Perhaps you should work on getting a "stable" job rather than on me paying for you to live off of welfare. Stopping smoking could save you a lot of money, too.  

Answer 3

It really depends on your state laws and whether or not your mother has equity in the home.  If the difference between the loan amount and the apprasial value of the home is more than 7500 dollars then you most likely will be totally out of luck.  It also depend how the loan was written with your mother.  If you have joint tenancy with rights of surviorship then you will be looked at as an equal owner or partner in the property.  If the home also is a multi family unit the welfare system may view the property as a business.  You need to sit down and speak with a social worker and possibly talk to your mother about refinancing and having your name removed from the loan.  My quess is they will most likely tell you sorry out of luck.  FYI never cosign for a loan for anyone.  You made yourself a partner in the deal by doing so.

Answer 4

Why do you think you will qualify for welfare?  You are not living on the streets, ill, need emergency assistance, etc.  You won't get it.  People have to stop thinking that they have a way out.  Get another job.  Move in with your mother!  Since you are a cosigner, that will count as an asset.