Poor credit score and mortgage loan!
My husband and I filed bankruptcy surrounded by 2005. We have a current mortgage that his father co-signed for and we have a tenant going to do rent-to-own.....We however can not take another mortgage due to our poor credit scores, so his dad has volunteered to win the mortgage in his name and we are paying the mortgage. What things or issues should I be suspicious of or possible problems that can arise? We are going to be on the deed! Thanks for your help!
Try the website http://www.pitbullmortgage.com
I hope this help!
the same issues that you have near your current mortgage if you don't pay it messes up his credit score.
"> You have need of to pay faithfully or it will crease his credit.
Also, you need to try and buy it from him as soon as possible, because it also TIES up his credit. Could prevent him from getting another loan if someday he decides to.
Another entity is to make sure there is something that say what happens to the home if he dies or becomes incompacitated.
Who is reponsible for the taxes?
your home could catch stuck in probate as part of his estate.
What happen if you and your husband divorce?
Related Questions:
What is revolving credit mortgage that read due on public sale provisions contained by the verbage within it. What does that penny-pinching.
What does that mean. What kind of mortgage is the human being taking out. A due on sale clause means that if you flog the house to someone else by letting them...
Try the website http://www.pitbullmortgage.com
I hope this help!
the same issues that you have near your current mortgage if you don't pay it messes up his credit score.
"> You have need of to pay faithfully or it will crease his credit.
Also, you need to try and buy it from him as soon as possible, because it also TIES up his credit. Could prevent him from getting another loan if someday he decides to.
Another entity is to make sure there is something that say what happens to the home if he dies or becomes incompacitated.
Who is reponsible for the taxes?
your home could catch stuck in probate as part of his estate.
What happen if you and your husband divorce?
Related Questions:
What is revolving credit mortgage that read due on public sale provisions contained by the verbage within it. What does that penny-pinching.
What does that mean. What kind of mortgage is the human being taking out. A due on sale clause means that if you flog the house to someone else by letting them...