Hi. I am having a terrible experience with saving my son's credit and name for the sake of my own purchase responsibility as times are tough and I don't foresee the future and could end up walking..

He wanted to rebuilt his credit and his friend suggested adding him to a mortgage will improve his FICO. He just got married and our lender (GMAC) is charging us $125 app fee plus $900 to close.

To add him, it was FREE of charge and instant as signing a few papers and recording a new vesting. They made some excuse as to "immediate family members are easy to add but everybody follows the same costly procedure to remove"

I don't see any justice. The cost to hire a lawyer to contest this is more time consuming and would equate the same fee it would to remove him.

I am outraged by these bank's corporate policies. It's "debt slavery" as I see it. Now my son's chances with his wife of purchasing their own home is tarnished by this stupid policy. They just feel proud they have an extra victim's life to ruin. From the individual level, it is tougher and more stressful than you think.