I have posted this on BHB but thought you could help...

Its about a Mortgage Registry.....

its a registry/bank account where your freinds and family can put money into to go towards a house- its in place of a gift registry.

I found an article about it in the paper in January but with no further info. I looked and looked online but wiht no luck. Then about a month ago, I found an article about it in one of the bridal mags, which said to check with your local bank. We did and our bank said they didn't do it however a bigger more national bank probably would do it. I have only checked with Washington Mutual so far and they had no idea what I was talking about.

Has anyone else heard of this????

Re: I have posted this on BHB but thought you could help...

Hi Dino1109,

I have heard of this but unfortunately do not know where you can go. I can only think a bank like Citibank or Chase Manhattan. These are big commercial lenders and I would imagine that they would be able to help you out. Try these two.

Hope this helps - Happy planning!

Kathy
Follow Your Heart

Re: I have posted this on BHB but thought you could help...

Hi Dino,
You wrote: "its a registry/bank account where your freinds and family can put money into to go towards a house- its in place of a gift registry."

Question: Apart from the label, "Mortgage Registry", what's the difference between this and a regular savings account?

You and your fiance can go into any bank and open a joint savings account together, have them label it "your name Mortgage Registry", then advise friends and family of the account details - name and address of bank, bank sort code, account number. They can then send money direct to the account and the bank will inform you when deposits are made.

I think this is a great idea - go for it.
Joanna

Re: I have posted this on BHB but thought you could help...

thanks Joanna-

I am going to look into that!

Dréa