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MWCoachIvan

September 17th

Hi Rocks - very tough decision here - where biblically we read all the admonitions against signing 'surety' - aka - co-signing. However this same Bible also says we are to care for the poor - needy - children, etc., sort of a tension if you will. The danger is being an enabler - it is possible God is using this situation in an attempt to get their attention - to get financial education - learn to live on a budget - etc., so again - a bit of tension. If your finances are such that you could actually end up paying all their rent for them with no expectations of being repaid - you could do so - but that would more than likely being enabling them. A better option would be - assuming they desire your 'intervention/assistance - that you would insist they be on a written budget - proving to you they can actually afford any prospective home - since it may be their income really only allows them to prudently live in a 2 bedroom apartment. Next - together - attempt to find a willing landlord - probably a small mom & pop deal - Christians that are willing to take a chance - and while you would maybe co-sign - the agreement with the landlord would limit your 'losses' (Continued)
M
MWCoachIvan

September 17th

(From previous posting) - If they were to violate the terms of the lease - not pay - whatever - the landlord would agree not to charge you more than say 2 months rent or something like that - plus also ask the landlord NOT to do any reporting to credit bureaus that obviously would seriously ding your credit. Again - small landlords - not the large operations may not report to credit bureaus anyway - but you can attempt to stipulate this in their contract. Also - these folks need help - have them go to 'moneywise.org' and request a budget coach - or have them email this address to get a one-on-one coach to walk them thru the whole process - including debt management: coaches@financialcoaches.org - to get a one on one coach If you have followup questions leave a note here and I will attempt to respond - tho some other coaches may post responses as well. In a last ditch emergency - they can call '211' and seek housing assistance from a myriad of sources.
J
JasonR

September 18th

Are they fully functional adults (no mental handicaps or other issues)? If so, your proposed "help" , as well-intentioned as it may be, is enabling and not making them grow up and deal with "adult life" and bad consequences of the past. Offer to pay for a Crown, Ramsey, or Compass financial class. I know Ramsey has Financial Peace University (FPU) available as online classes. I mean my reply in love, even as tough as it is. We have adult children of our own facing this, and it is had not to rescue.
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