07/26/2017
Words of Wisdom Wednesday!!
Credit is life.....take care of it!
DO NOT cosign a major purchase if you are thinking of buying a home in the near future.
You are not just helping a friend or family member get that new car or apartment you are also taking on their debt as well. This major purchase goes on your credit report and counts towards potential financial obligations that you will have in the future. It might affect your debt-to-income ratio which is one of the factors that tells a lender if they should extend credit(i.e mortgage) to you or not.