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Ask Dave

Let him be mad

Emmanuel's dad has asked for a huge favor, and Emmanuel doesn't feel good about the situation. Dave says he has lots of reasons to say no to this over-the-top request.

QUESTION: Emmanuel is in a sticky situation. His dad asked him to buy a home for him and Emmanuel’s mom, with them making the payments. Emmanuel is hesitant because his father filed bankruptcy nine years ago, and already has another $150,000 in debt. Dave tells Emmanuel he’s headed for trouble if he grants his father’s request.

ANSWER: I think doing something like this would spell big trouble for you. If your dad is irresponsible with money — especially to the point of having to file bankruptcy and then piling up a bunch of debt again afterward — what makes you think he’ll make these house payments on time?

I know this would be an uncomfortable conversation to have with your dad, but you need to just brace yourself and do it. Be respectful and explain exactly why you won’t do this. Think about it, Emmanuel. When he doesn’t pay the bill on time, it’s going to screw up your credit score. And when you get ready to buy a house, guess what? You’re going to have trouble qualifying because you already own a house. Most people don’t make enough money to qualify to buy two homes.

Basically, your dad is asking you to not buy a house so they can have one. I can’t tell you how to make your dad okay with saying no to this, but I can tell you that your answer should be no.