Posted on: 16th Jul, 2011 07:51 am
My parents bought a house for me and my wife, because we did not have good credit. If we agree to a quick claim deed and I show proof that I have paid the mortgage for a certain amount of time, will this improve my credit, so that I can then purchase the home from them.
Hi tejanae,
A quitclaim deed may not be able to help you in improving your credit score. However, if your name is mentioned on the mortgage docs and if you've paid the mortgage payments on time and it is reported to the credit bureaus, then it will help you in improving your credit score.
A quitclaim deed may not be able to help you in improving your credit score. However, if your name is mentioned on the mortgage docs and if you've paid the mortgage payments on time and it is reported to the credit bureaus, then it will help you in improving your credit score.
Hi tejanae!
Welcome to forums!
If you can prove that you've paid the mortgage payments on time, then it will help you in improving your credit score.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you can prove that you've paid the mortgage payments on time, then it will help you in improving your credit score.
Feel free to ask if you've further queries.
Sussane
MY MOM TOOK OUT A HOME EQUITY LINE OF CREDIT 4 MONTHS BEFORE SHE DIED AND USED MYBE A TOTAL OF 2THOUSAND IF THAT AND WHEN I MOVED IN I WAS PAYING BACK $670.00 PER MONTH FOR 18 MONTHS DO THEY OWE ME?
THE LAYWER MAD IT WHERE IM EXECUTOR OF THE ESTATE IN 2OO8,MARCH
THE LAYWER MAD IT WHERE IM EXECUTOR OF THE ESTATE IN 2OO8,MARCH
If your name is not mentioned on the mortgage, then you won't be liable for the mortgage payments. if you wish, you can refinance the mortgage in your name and pay it off in order to save the property.