This content has been marked as final. Show 5 replies
I'm open to being wrong on this one, but I do not think this is possible.
The loan is in her name, and any payment activity on the account -- good or bad -- will reflect on her and her alone. It does not matter that the payments are coming from your checking account.
Any time you get information relating to your credit or how to enhance it, be sure that your source is valid and can be checked out. There are a lot of myths out there on the subject of credit and credit improvement.
Again, I could be wrong on this. Perhaps someone else will contribute further.
Welcome to this web site. Tell us more.
Do you have good credit?? What is the relation between you and the person who name is on
the mortgage?? Is this for a Business or Personal?? Do you have a Lawyer??
The more you share, the better our answers,
My credit it's around 600 not the greatest. I do have a very good relationship with my mother in law. Right now I can't have a mortgage because of my credit, but I am paying the mortgage and I want to know if by paying on it I can get some kind of a credit. My bank statements show where the money it's going to and that it is coming out on time every month.
I do not think this is possible.
You might find a future lender who will take into account your payment history (unlikely, but it could happen), but I do not think this is going to appear anywhere on your credit report or be helpful in raising your score.
Are you living in the house? It seems like if you had a lease or lease-to-own agreement with your mother-in-law that specified the terms and payments you are making, then she'd be your landlord and you'd be building a history of paying your rent on time. It's not as good as building home equity, but it's something at least.