MONEY TALKS

Not so fast! Here are three key things to know be­fore cosign­ing a loan with a loved one.

Canadian Living - - Contents - TEXT STACY YANCHUK OLEKSY

Con­sider these things be­fore cosign­ing a loan

A lot of us would do any­thing

to help our loved ones out of a cri­sis, but would you put your­self on the line fi­nan­cially? In mat­ters of money, love’s got lit­tle to do with it, and it should never be the sole fac­tor for pro­vid­ing fi­nan­cial sup­port. So be­fore you cosign a loan, know ex­actly what you’re promis­ing by tak­ing these three im­por­tant points into con­sid­er­a­tion.

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