Hello,
If you are currently paying a relative or a friend cash to pay your rent or mortgage - you need to stop.
Don't stop paying rent - just don't pay with cash anymore.
...The reason is that if you need to purchase or refinance a home at a later time - you will need to be able to prove that you made your rent or mortgage payments to the mortgage company. It's hard to prove this if you pay with cash.
The best thing you can do to pay the rent is write a check for it each month. ...it's easy to produce cancelled checks to prove you paid the bill.
If you elect to pay with money orders - just make sure you save every scrap of paper (receipt) from each month.
I hope you have a good day today. Thanks for reading!
Brett
No comments:
Post a Comment