Sponsoring a parent

[thegreat23]

Hey guys,

I had a question about sponsoring a parent. If I am the sponsor and I accept the financial obligation to support them if needed, does the sponsorship affect my ability to get loans and mortgages in the future?

Thanks.

AP

 

[rightback]

No, it will not effect on your ability to get loan or mortgage. If your sponsored person take any social assistance payment you will be liable to pay back all those amounts.

 

[mikeymyke]

No but if for example you cant pay ur mortgage and file for bankruptcy, it will