Let me explain what you are doing if you cosign a note.  You are loaning the money you borrowed to a person who was too great a risk for the professional lender.  You are involving yourself in a business transaction that the expert money manager would not touch. 

 

If the professionals are afraid that the risk is just too great to extend the loan, why would you want to put your personal credit and accumulated assets at risk?  It just does not seem like a wise thing to do.

 

 

Your thoughts on this subject?  Your comments appreciated!

 

Content © Rich Brott, 2011

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