The loan is in his name BUT I've made every single payment?

The only thing that matters is the name on the contract American General could care less who is paying them as long as someone is.

The only way you could benefit would be if they would agree to add your name to the contract. And if you can show them that your the one that has been making all of the payments, they just might. But your boyfriend would have to agree and both of you would have to sign new documents.

in the experience that your plan is to purchase a house interior the subsequent 5 years, you could't "purchase" a house for or from them on paper. No financial corporation provides you with a private loan for 2 mortgages. And, except a form of foreclosures properties is one which you particularly choose to stay in, that's quite no longer likely that a financial corporation could approve a private loan for you on my own besides, as you do not have sufficient income (on paper) to the two pay on your individual lease and contact this dwelling house a condo agency. Plus the tax effects are way too confusing with each and every thing they're attempting to do right here. they could lose the tax deductions for the interest and taxes, considering you're paying those, a minimum of on paper, and does not have the skill to deduct them by using fact that is not any longer your condo agency. as a substitute, i could propose mom and pa to attempt to get a stability pass card and pass the severe interest cost debt to a decrease cost card. i admire the pentagon federal credit union VISA which provides a 2.ninety 9% stability pass. Sorry - i understand you sense obligated to help, yet doing so will in undemanding terms postpone the inevitable for them, and you would be throwing your individual stressful earned money away.

It sounds like you guaranteed the loan, but you're not a co-borrower. Under that scenario, the loan may not reflect your name as the borrower and thus, you're never reported to any credit agency as the borrower. If your legally connected to the loan and stop paying it will affect you and and your credit, but likely not his credit.

You may be able to sue the guy for the debt that your paying that is, in effect, his, but you need to speak to an attorney before you take that step.

It doesn't matter, in fact since your name is not on the loan they won't even talk to you about it. He is the one who applied for the loan, any payments are made to his account. So any positive history as well as any negative history is on him. They don't care if the money comes from him, you, or some stranger on the street.

Had you wanted to have the history reported for you, you would have needed to become a co-signer(very dangerous) or have the loan in your name only.

Unfortunately in no way will it benefit you. Banks really don't care who pays the loan as long as its paid. If you stop paying on it then he would be the one screwed so in a way I guess it is a benefit because if you stop paying your credit won't be hurt it would be his. Best of luck to you.

No benefits for you, sorry. And quit paying for this deadbeat. And don't go to the finance company and in anyway try to assume responsibility for the debt. Not only will it not help, but they will have some legal basis to collect from you if you ever break up.

Forget going through that. There might be a cost of transferring the loan from his name to yours or adding you as a cosigner.

Your credit is not a problem ---- something else is./

No, it would not benefit you. You credit is the record of whether debts in your name (actually, your social security number, because there are too many duplicate names) are paid on time, whether by you or by someone else. It is not a record of whether you pay someone else's debts.

You don't get anything since you are putting another persons credit at risk

No. It won't help you. Either refinance the loan with your name on it or stop paying. Let him pay.