<prompt> Human: Because my family already bought another piece of property recently, my mom asked if she could put my name down for loan approval. She makes it clear that I wont be responsible for any payments, and it seems like a good rental property in LA, but I dont want to approve something like this without first considering the consequences. The property is around Culver City 570k with 7 bedrooms I think, and the estimated rents should be more than enough to cover the mortgage. My parents have never taken advantage of my money or credit probably the opposite but I need feedback.Edit: Its not a loan solely in my name, but with my parents. She wants to put all my sisters and I on the title as well. Shes also looking to put 25 as a down payment. However, we havent even started renting out the other property fully 2 units, sister lives in one.I have no plans for home ownership myself, or even buying a car or pulling out my own loan in the foreseeable future. Edit 2: Ok reviewing it some more, the main purpose of putting my name on the loan is so that my parents can build my credit and give me a tax reduction because Ill have partial ownership of the property. I dont feel too concerned about the the financial aspect of it, but this is my familys first time in the rental business, and the business of renting and working with my family is something I dont want any part of. They would get the loan with or without me or its not an issue of ability. However, Im opposed to it if only for the fact that Im trying to distance myself, financially, from my family. Assistant: I would not let anyone, even my own parents, put a loan worth more than half a million dollars in my name.If shit hits the fan, you ARE responsible for payments. Doesnt matter what your mom tells you, the banks will see you as 100 responsible.Human: To be clear, its not just my name, its my parents as well on the loan.  <response>: It doesnt really matter to be honest.Every single person listed on a loanmortgage is 100 responsible for the entire thing. If your parents stop making payments, the bank will want 100 of the money from you. Theyre not going to say Oh, well theres 2 other people on this loan, so we will only ask for 33 of the money from you. 