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General Landlording & Rental Properties

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Drey S.
  • Rental Property Investor
  • California, CA
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Tenant with LOADS of Medical School Debt (payments deferred)

Drey S.
  • Rental Property Investor
  • California, CA
Posted Oct 27 2014, 12:14

Hi there,

We are currently screening for a 2/2.5 condo in Newport Beach at $2795 and I'm wondering about the co-signer on the property. 

Is it normal for a young Orthodontist to pull 20k/month but have almost 700k in student debt?  The 8-10 student loans are Sallie Mae - and most are deferred with $0 monthly payments, so his credit is actually 780.  I've never seen this much debt on an application, but I'm not sure if I'm overreacting.  He's co-signing for his mom who makes 8/k a month selling time shares (which seems unstable to me - but what do I know?)

Any ideas or insight would be nice to have.  Thank you in advance!

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