<prompt> Human: Hello, Ive decided to use a throwaway account to keep this information anonymous. The lender is calling at 5:30pm EST and Id like some advice before I take this phone call.Background:Im 22 years old with decent credit and about to graduate from college in December. I dont plan on buying a home for 5 years or so want a wife and search for good family area first. I currently live an apartment near my university. My family has lived in this house for 10 years renting, it went up for foreclosure 4 years ago because our landlord didnt know what he was doing. My parents boss bought the house gratefully so we wouldnt go homeless on terms my parents buy it within 3 years. Financial troubles and poor planning resulted in it being today, 4 years later and my parents boss needs an answer soon or he will be selling the house. My parents have crap for credit and were denied via the online application. My parents applied with my information and I was accepted and was told Im getting a call in 5 hours to discuss the details... If I deny this, my parents will have 90 days to relocate or go homeless once the home is sold. And I doubt they would ever let this down knowing Im the one who let them and my 3 younger siblings go homeless...Information:This mortgage would be for 55,000 and would be solely in my name. My parents have a few things in collections they planned on paying off which would boost up their credit. Afterwards they told me I can do one of three options to get the mortgage out of my name and into theirs. However, all require them to have the appropriate credit. Assumed loan Refinance Selling the houseI dont understand very well how any of those three options work or really how real estate works. This may be incorrect information my parents have fed me. I do know that you cannot have more than one house mortgage at a time and I dont want to be stuck paying for my parents house and living in an apartment until the mortgage is payed off if trouble occurs. Im figuring worst case I can put it up for sale if it becomes too much of a burden on me, but I dont know if that is rational thinking. Any advice is greatly appreciated.Thank you.EDIT:I would like to respond to all of you, but theres a lot more responses than I expected. It seems the general consensus is to NOT go through with this deal in any situation. This is the way I was leaning towards but my emotions were getting the best of me worry of disappointment from my parents and their potential homelessness. Thanks to all of you I am deciding to cancel this agreement and talk to my parents about what I can do to help them in the potential endeavors forward. I dont think its that bad of an idea to move on to a new chapter in life :. You are all fantastic people and have a great day!  <response>: Your parents had 4 years to get their act together and they didnt; you yourself said this was the result of poor planning. If your parents couldnt figure out how to get the money for the mortgage in the 4 years their boss gave them, theyre not going to magically figure it out once you take the burden off of their shoulders.They are using guilt to manipulate you. If they lose the house, its their fault, NOT yours. They were already bailed out once and didnt use that opportunity.Honestly, Im not sure how you missed the huge red flag of them applying under your information without your knowledge or permission. That means they knew there was a risk in asking you, so they made sure that the situation was unfavorable for you to say no before they asked. They have put you in this awkward position.OP, seriously, tell the lender there was a mistake and you are not applying for the house unless you are fully prepared to take on the financial burden of your parents, who seem incapable of handling themselves as adults. This is not your responsibility. 