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The original was posted on /r/bestofredditorupdates by /u/Choice_Evidence1983 on 2024-11-08 05:01:06+00:00.

I am NOT OOP, OOP is u/RamenNoodles620

Originally posted to r/EntitledPeople

Entitled uncle wants me to fund and co-sign on a loan for a home

Thanks to u/soayherder & u/Direct-Caterpillar77 for suggesting this BoRU

Trigger Warnings: entitlement

Original Post: October 29, 2024

In a lifetime of entitled behavior from my aunts and uncles, this one may take the cake.

One of my uncles, Travis, is looking to buy a home. He mentioned this to me a couple of weeks ago and was asking about the process. I suggested that he and his family get their funds together sooner than later. By this I meant getting the money he is owed by my other two uncles, Randy and George. Figured they may have some other questions once they get more into the process, and did not think any more on it.

For background, Randy and George owe Travis money because Travis gave them money as a downpayment on a house they were all supposed to own together. Travis and Randy’s family were supposed to live there which they did for a time. Travis’ family moved out due to size limitations, but were apparently paying rent there.

Why it made sense to them to pay rent while having already put a down payment in and being supposedly co-owners, I don’t know. I told Travis when this all happened that he should be careful and make sure he is covered legally. He did not do that. Once he moved out, Randy and George rented out the now vacant second unit. Randy pretty much lives for free while George didn’t have to put any money in to get ownership of a house. Randy and George were supposed to pay Travis back for his down payment. It has been 4-5 years since then.

The other night, Travis called me. Starts off with small talk and then he eventually mentions buying a home again. So I ask if he has some kind of question about it for me. He says he does and he wants to know if I would sign on as “support” on the loan and help with the down payment. So co-signing and providing a downpayment for a home I have no interest in buying or managing with someone. Travis said he spoke to Randy and George about getting his money. They told him they needed some time, but to talk to me about providing support for the loan in the meantime.

Thought I heard wrong so asked him to confirm for me that instead of getting money from his brothers that owed him, he was once again listening to their “advice” by coming to me to cosign on a loan and give him money for a house. Told him, no. This is not something I want to do and then said I had to go before hanging up.

Could not believe the damn gall to even ask this. Just reinforces why I continue to keep my distance with certain family members.

Relevant Comments

OOP answers on if Travis has a place to live at

OOP: He has a place to live. He’s been in a nice apartment in a great location since he moved out of the house 4-5 years ago.

He wants more space because he is getting his kids married and our culture tends to have multi-generational homes.

Not going to hold it against him as it won’t change our relationship from what it is now. Also not going to say yes to his ask.

Commenter 2: Will this be the end of this conversation with your uncle or is this just chapter one of a saga? Will the other two uncles decide to band together to go after you to put up the money instead of putting up the money they owe like in so many other stories we come across on this sub? I feel like might be heading in that direction.

OOP: Doesn’t matter if they band together or make solo attempts. The answer has, is and will be no.

I don’t even like them in general let alone giving them money.

Commenter 3: That’s a good example of why I won’t do business with family. Unbelievable that you were asked to fund his house simply because he won’t get his finances and legal situation with the other house in order. Hope pops his head out and gets a good lawyer.

Update: November 1, 2024 (two days later)

Original Post Summary: Uncle called me to ask to cosign on a loan for a house he wants to buy. He is coming to me instead of getting money from his brothers who actually owe him money. He wants a house to have more space for his family because his kids are getting married. In our culture, multi generational homes are normal. I of course said no.

Update:

Visited my mom yesterday so she could go trick or treating with us. Got some more information from her about this that actually made me laugh out loud at how ridiculous, entitled and delusional this ask is.

Not only did they ask me to co sign on a loan, they also asked my dad to “help” fund the down payment. Fairly certain that by help, they mean pay for the entire down payment. My dad said no.

My uncle apparently can get a loan, but it’s not enough for what they want. What they want is a two family home relatively close to the city we live near. They do not want to go too far which is what they would have to do based on the loan he can get and they only want a multi family home so they can rent out one unit.

Their grand idea is for my dad to pay the downpayment, me to cosign so they can get a more expensive home, rent out one unit at the house to help pay the mortgage and they will pay my dad back as they can. They could not even suggest that the rental income will go straight to my dad.

They went from going to the people who actually owe them money to asking my dad and I to buy them a home. My relatives have a history of entitlement, but this has gone beyond anything they’ve done before. I am still flabbergasted that they thought they could even ask this of me and my dad.

Relevant Comments

Commenter 1: There is no consideration from your uncle to save up money to do it himself. Your uncle needs to realise that he has to commit himself to paying back the money he owes. He also needs to look at saving the money up for the base payment. I suspect he won’t do this, though.

Yes, your uncle is entitled. I want. I want. I want.

OOP: It’s crazy to me that his brothers, my other two idiot uncles owe him money.

Instead of getting the money from them, he is coming to us.

Just bonkers logic from him.

Commenter 2: I’ve said it on reddit before and I’ll keep saying it: Personal finance rule #1 NEVER CO-SIGN unless you are buying an asset with a long-term partner you trust. Good on you seeing through the BS

Commenter 3: Even if you were to cosign on a loan for your uncle, you have NO legally binding guarantee that your uncle won’t default on the payments which would then leave YOU legally on the hook for the loan or mortgage.

DON’T DO IT!!!

DO NOT COMMENT IN LINKED POSTS OR MESSAGE OOPs – BoRU Rule #7

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