Is this is a legit way to make some money by being a credit partner (like being a co-signer )?

Question

EX: like being a credit parnter to co-sign for properties, They refinance the property .but you must have a good credit score . ANd the they rent directly to section 8 tenants with all rents guaranteed, you will see get the after repair apprasial and contract with section 8 docments , By doing this you can earn like 1,000 to 1,500 per month . they buy homes but they need co signer with good credit then they give you commision . IS this Legit. I saw this ad many times people looking for credit partners for investments , Please let me know if this legit or not?

Answer 1

A co-signer is liable for any debt that the owner of the loan does not pay. So if anyone you co-signed for backs out on paying, you get stuck with the bill.

Not a good idea.

Answer 2

No, this is not legit.    This is  a scam.

You will co-sign alright, but that is the last you will hear from them.

You will not be on the deeds, you will own nothing but the mortgage payments, which will be coming to you because they are not paying them.

Very stupid idea.

Answer 3

That would be like me walking up to you in a restaurant and telling you "Hey, can you give me your credit card so I can start a tab.  I'll pay you back".  Basically you're taking on all of the financial burden and not getting any of the rewards (legally speaking).  Now, they are telling you you'll get money back from them, but you have no real recourse if they don't and believe me -- they won't.