Posted on: 05th Jan, 2011 12:35 pm
My boyfriend was paid $5000 to use his credit/name to purchase a home for someone else and than his name was removed from the Trust Deed. He was told they would re-finance in about a year and his loan would be paid off. It has now been 6 years and the mortgage is still under his name. Now the person in the home isn't paying the mortgage. Is there anything he can do at this point.
Hi yolie!
Welcome to forums!
Unless the person refinances the mortgage or assumes the loan, your boyfriend's name will not be removed from the mortgage docs. The non-payment of the mortgage dues will badly affect your boyfriend's credit score and the lender will come after him in order to recover his dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Unless the person refinances the mortgage or assumes the loan, your boyfriend's name will not be removed from the mortgage docs. The non-payment of the mortgage dues will badly affect your boyfriend's credit score and the lender will come after him in order to recover his dues.
Feel free to ask if you've further queries.
Sussane