We recently had a for a "keys for cash" settlement on our last house. We are in the process of purchasing a house with another member of the family. The other member was approved for the full amount of the mortgage, but we agreed to pay $1000 of the $1200 mortgage payment each month as “co-owners”. Could we be added to the mortgage in name only (even though we are paying too) without the credit score being taken into consideration? Would being added to the deed be sufficient? If we are not on the mortgage, are we considered renters, come tax time? Thank you!

That's mortgage fraud in several forms.

The only way to make it not legal is to allow your friend/family to purchase the home and rent it back to you. They can always sell it to you at a 'discounted' price when you have the capacity/money to buy it for yourself.

If you are not on the deed, then you do not have an ownership interest in the house.

If you are added to mortgage as a co-borrower, your credit history will be taken into account. However, if the family member qualifies on his own your credit will probably not cause a problem. However, being on the mortgage doesn't convey an ownership interest either. You will owe the balance without any of the benefits of ownership including the ability to deduct interest and taxes.

If you are on the deed, then the lender will probably require that you be on the mortgage.