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Mortgage cosigner rights on the house?

I've already been advised to have my parents cosign on my mortgage because of my limited work/salary history (been in grad school for 7 years) but I am hesitant. Does their cosigning guarantee any rights over my house to them or anything of that nature?
By artweathers92378917 from WI Oct 6th 2014
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In the mortgage industry, a better way to look at it is non-occupying co-owner. Everyone on the loan will have an equal share, regardless if they live in the house or not. www.WI-MortgageBroker.com

Oct 6th 2014

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Having a co-signer on your property would give them the same legal rights to your home as you would have being the occupant. They would also have the same financial responsibility on the property as you. If you would like to find out more about this, feel free to reach out. Jim Schaefer - 612.501.5113

Oct 6th 2014

Both replies below are spot on; I'm just throwing in a third response to provide even more solid consensus. CloseWithMichael.com

Oct 6th 2014

Call me to discuss your work history as the mortgage company you are working with may have stricter guidelines on job time then another company! Co-signing, co-applicant, non-occupant co-borrower basically equal the same thing they are just as liable for the house/mortgage as you are. Thank You,Mandy Fritsche - Mandy.Fritsche@prospectmtg.comMortgage Loan Officer - NMLS# 557211262-327-5700 Cell/Direct - 877-868-9198 Faxwww.myprospectmortgage.com/mfritsche Follow this link to sign up for complete access to MLS Listings through HBMhttp://www.marketingsplash1.com/RequestHBSR.asp?ID=SQKUPLCMJMFF

Oct 6th 2014


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