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Janettle

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Mortgage question
My father in law bought our house and he holds the title, we pay him 4%interest on a 15yr.loan, i get all appropriate tax forms @end of the year, but it doesnt show on my credit that im making mortgage payments regularly on time so its not benefiting my credit, how do i go about getting it to show to help my credit?

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You can not

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Your father inlaw would have to be paying membership fee to one or more of the agencies to get it on your credit report.  If you want it on your report I would suggest you take out a mortgage from a lender to pay him off, this is good also because business and family can get ugly. Then a professional company will be reproting it as they are members to one or more of the three CRA's in most casses.

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If your credit is such that precludes you from securing a loan on your own which is a good suggestion by Nomadre, perhaps your father-in-law would consider being a co-applicant or co-signor on the house.   When you secured that loan, he would receive payment and he could deposit it into a high interest account so that if for any reason you defaulted, he would be in a position to pay off the loan so that his credit is not hurt and he would still have ownership of the house itself.  

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