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Help with credit score issues

Okay, 4 yrs ago my hubby and I moved from our old home to the farm that he grew up on. We tried for a while to get our old house sold but had no luck and needed to get out from under the payments so we found one of those people that lease houses and then rent them out to other people. The people that are renting the houses are doing it with the intentions of buying within a few years. We have a contract with the guy leasing the house. For the past year and a half at least I would say he has been a month late on both the first and 2nd mortgage. He pays the banks directly instead of paying us and then us having to then pay the banks. And for a while now his checks have been getting returned as well. The big problem is that this is destroying our credit because everything is still in our names. Is there anything we can do leagally to fix our credit? We need serious help!!! What should we do?

Answer Question

Asked by Becky357 at 9:45 AM on Jun. 19, 2009 in Money & Work

Level 1 (0 Credits)
Answers (1)
  • Um.. yeah --- he's in breech of contract by not making the payments on time. Cut out the middle man & deal with the renters/potential buyers directly. That's the first step.

    Answer by Laura1229 at 10:33 AM on Jun. 19, 2009

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