Re: Can an individual report to credit bureau
02-05-2011 07:35 AM
Yes, they want repaid for the amount they're putting into it. The deal is pretty much going to be.
$80,000 (purchase price) + $4,500approx (the amount of money over $10,000 they are putting for a down payment), + any initial repair costs (the house needs a new window, and some shingles replaced)
Every month I will be responsible for the mortgage payment (and tax and insurance). So after I can get approved for a mortgage myself, the purchase price of the home will be the total amount above less any money that I've already put into the house.
I hope that makes since
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