Quote:
Originally Posted by kunkstyle
Alternatively, you could set up a joint account at said bank that is used solely for mortgage payments, and both of you could transfer to that account.
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Along the same lines, if you still prefer to have the mortgage come out of your own account, is that you could set up the joint account simply as a means to get the money from her to you.
She transfers money into the account when she owes you something, you transfer it out into your own account. It would basically have a zero balance unless you are both in the middle of a "transfer". That way any late or missing payments from her won't result in your mortgage payment bouncing. And should things change in the future, you wouldn't have to update your banking info for your direct withdrawal of the payment.
But it all sounds like a hassle to make sure you're at the same bank, etc. If she's paying you rent monthly, having her send an email transfer will cost her $12 annually, which seems pretty good considering you'll be moving thousands of dollars around.