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[quote=Anonymous][quote=Anonymous]Under what circumstances would you either co-sign or give/loan money to a family member (who is not your child)?

I am asking because our nanny needed me to verify her income because she is co-signing for a niece’s mortgage. I was like, ooh, are you sure you want to do that? I think she thought I was crazy to be concerned. She said she has done it before when niece needed to buy a car and it all worked out.

So, I am wondering if I am too stingy. For my own kids, I would likely co-sign or help, but probably not beyond them. I would always help family (parents, siblings, nieces/nephews) in an emergency but it would be a gift within the amount I can reasonably afford, except for life/death things. Then I would do whatever I could. But I would never co-sign for a niece’s mortgage. I have floated family members when they needed to buy and sell at the same time and they needed cash for a short amount of time until they could sell the old house.

Maybe I have a very US view of this and we are too independent? Interested to hear what others think. [/quote]

Dumb move by the nanny.

Hope you are paying w-2s. Nannying is not a long term stable job so unclear what a broker would think of it.

Our nanny did all kids of dumb stuff with her money so we just stayed out of it. [/quote]

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