[Debt] Mom owes 480,000, wants me to cosign

I’m not very financially savvy, but this is what’s happening. My mom has a $350k mortgage, a $100k loan with high interest (12%), and a $30k payment on a car. Currently she pays about $4000 a month, using her $3k a month income and $1.7k she gets under the table from family “renting”.

She’s telling me she wants to bundle her loans/mortgage at the bank so that she can pay roughly $2200 a month instead of the $4000 she currently pays, but she needs someone to cosign and my dad doesn’t make enough a year to cosign with her. The problem is that a lot of her income is under the table, including the tips she makes at work, so she has trouble proving that she can pay the loan even though her numbers add up. I am very against cosigning. Can I get some insight on what you guys think?

edit: This just confirms all my worries about her financial situation, and I really think I should be cutting ties with her as a result. I’m pretty much being guilt tripped into helping her or loaning her money whenever she’s short right now, but she does too many things not by the books because of her culture and the way she was raised. I love her and want her to be happy but not by ruining my own life. It really helps put things into perspective. Thank you for all the responses!

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