Poor credit scores and mortgage loan!

My husband and I filed bankruptcy in 2005. We have a current mortgage that his father co-signed for and we have a tenant going to do rent-to-own.....We however can not get another mortgage due to our poor credit scores, so his dad has volunteered to get the mortgage in his name and we are paying the mortgage. What things or issues should I be wary of or possible problems that can arise? We are going to be on the deed! Thanks for your help!