This doesn't sound like a win win for everybody, maybe him. Is this the only offer you've had on the house? How much is he paying you for your house. Give some more details. I wouldn't call the mortgage company at all. The less they know the better of everybody is. Have you signed a contract yet?
Don't let the loan lapse at all. This will only create problems let alone DAMAGE your credit not his. Keep the payments current .
This doesn't sound like a win win for everybody, maybe him. Is this the only offer you've had on the house? How much is he paying you for your house. Give some more details. I wouldn't call the mortgage company at all. The less they know the better of everybody is. Have you signed a contract yet?
Don't let the loan lapse at all. This will only create problems let alone DAMAGE your credit not his. Keep the payments current .
Did you already close this deal?
How is this good for you?
That sounds like all risk is on you.
More details needed.
Hello,
Here's a better solution for YOU.
You don't call your mortgage co. You have him make payments (give'em the payment book or the Web address of your mortgage co).
On the same Webpage you can check to be sure that he's making the payments. If he's not, you can take the property back -his funds are NOT refundable.
That's the way I'd do it.
Thanks,
OTW :-D