<prompt> Human: rFrugal told me this would be a better sub-reddit for answers. My single-mother owns the home we grew up in. She bought it for about 240k a while back, and she has about 90,000 left between the principal mortgage and borrowing against the home. The home is worth about 300-350k right now. She pays about 1200 per month right now. Last month, she lost her nannying job, and isnt able to refinance without an income, so she wont be able to make the payments. She wants me to refinance with her. Wed each own half the home, on a 30 year fixed mortgage. Shed then make monthly payments about 600 per month, much lower than what shes paying now, I wouldnt be paying anything. Even without a job she can afford 600 a month.My question is whether this is a good idea for me. Im single, 25, make about 42,000 per year. I have about 3000 in credit card debt, and about 30,000 in student loans. In two years, my salary should be about 60,000.I dont want my mom to lose her home its basically her retirement nest-egg, but I dont want to damage my credit with too much debt. I would co-own this house title modified to include my name. When my mother dies, I would sell the home and split it the money with my sister. My mom wants the 30-year mortgage so she can have a lower monthly payment.Our familys original plan was to have my sister and I pay off the mortgage in the next ten years. My sister is a doctor, and Ill be making more money down the road. We will definitely be able to pay off the mortgage in less than the 30-year term. Will this affect a future car loan Ill need? Will it limit me from getting another mortgage when I want to settle down in ten years?Help please! My immigrant mom raised two kids by herself, not speaking english very well, and sent both of us to universities.TL;DR: Very responsible Mom wants to refinance her home, use me and my income as leverage to get a lower monthly payment. ::Editing some corrections: House was bought for 240k, recently got an offer for 320k. Mom currently rents two rooms at 500 a piece. Could squeeze a third in. And I think I need to draw up a better legal lease. Sister does have some concerns about initial salary in the Ortho field. Says shell probably make about 120-150k before loans starting out, so she wont be able to buy out the mortgage right away. She says she fully supports helping pay off the mortgage as our Mom retires, and chipping away at it while she can. Very tight knit family.I also think my mom will easily get a job again. Nannying is very in demand when school starts. But I also think shes been secretly struggling with the 1200 monthly payment for a while.All these responses have been very helpful! Its hard to think about family love vs. financial reality, and which is more important at the end of the day.  <response>: If it was my mom and I was in your situation I would not do it. There is no need to immediately refinance the house right now. Have you and your sister give her 300 each a month for a few months if you can so she can cover the current mortgage.People assume that doctor will have lots of money when they start practicing but after medical school they have to go through residency. Then after residency they have to pay back their student loans since most doctors choose forbearance during residency. If they get out of medical school with 150,000 in loans by the time they are done with a 4 year residency they will have almost 200,000 in debt. They will have to pay over 2000 a month for 10 years to pay off this debt. 