I am a recent college graduate. My friends and myself were wondering if it was...

[bizzlekizzle2]

...possible to split a mortgage? My friends and I recently graduated from college and would like to buy a house together. It would be like six of us and we all know we will live in the area for the next five years. Is it possible to get a morgage and each have 1/6 ownership of the house?

[Don]

Yes - you'd be "tenants in common", I believe. But all those guys you think you trust right now can turn out to be totally out of their minds when it comes to money.

However I know where you're coming from. Who wouldn't want to buy a house - but who can afford one! So buying it with 5 other people might be the only way you'd ever do it.

But if you want to avoid the possibility of unbelievable difficulties, stay the hell way from the deal. What happens when one of the people suddenly wants out - do the other 5 have to sell? Or what happens if you have a member who just never can come up with his payment? Do the rest of you pay his share? what happens when 3 of you aren't speaking to the other three?