HELP!! Please someone that knows what you are doing please just read...?

Question

I purchased a home two years ago with a now ex girl friend. She lived there for approximately 6 months. She was unfaithful and we split up. We agreed that she would move out because I was in a better position to make the payments. I have made the all payments on time since.

In addition to all this I had failed to pay a credit card from discover (my fault) and the card went to collections then into judgment. I have since January of 2006 made arrangements to pay of this dept and I am making monthly payments of $200 (sometimes $400). I have paid the dept down to $1900.

Now I get to the good stuff, my ex girlfriend and her parents have contacted a Real Estate attorney and they are pushing me pretty hard to do one of two things. 1) They are asking me to refinance with in 60 days or 2) List the house on the market to sell. (CAN THEY DO THIS) she has NOT made any contributions financially since she left.

They have requested that if I do list the house to sell, they are interested in

......in recouping $2,000 for what she had paid while living there. (That’s fair)

In doing some research on selling the home, my home has not earned enough equity at this point (2 years later) for it to be beneficial for me to sell. I owe approximately $93,000. Based on rough estimates my home appraises for approximately $112,00, after paying her $2,000 and closing cost (approximately $3,000) plus real estate agent commission, I will have to pay close to $6,000 and I am not left with t much. And that is assuming I get market value for the 1,300 square foot with 3 bed rooms 2 baths. The home was built in 1999.

So the refinance option is not too good right now do to the judgment which I can get released but still not guaranteeing a GOOD refinance deal. I tried to sneak a quit claim deed however she unfortunately was not that dumb.

So I am between a rock and a hard place, I have 3 room mates living in the home with me now so my payment is subsidized greatly. However I am on a

The home is in BOTH our names she is listed as a Co Borrower! EEEEKKKKK

At this point they are not being vicous as the main goal is to get off the mortgage! We share a common goal!

Answer 1

purchased a home two years ago with a now ex girl friend

Is her name on the mortgage?

I assume, Yes!

She lived there for approximately 6 months.

interested in recouping $2,000.00 for what she had paid while living there. (That's fair)

That's fair?? Like hell it is!

I assume those were payments on the mortgage?
And she lived there? For about six months?

She should be LIABLE FOR RENT TO YOU, less the $2,000.00.

As for any payments that you made without her, that is a gift to her.

If you are presently making payments, she can ASK for her share, but she sure as hell can't force you to do anything. I f you made a contractual agreement, in writing, a buyout agreement, that can hold legal ramifications. Without one, she has to wait.

As long as you keep the payments current , you do not have to do anything for her.

Now, she can sue you, but I doubt that any judge will see this any differently than I do.

SEND HER A BILL FOR RENT! Less her payment of $2,000.00.
Are you sure that she isn't related to my ex. That one got 400K +.
Dude, they're everywhere out there.

Kill her and tell God she died. I should have. NOT! Kidding.

Answer 2

If you are not in a position to pay her the $2000 presently that you agree is fair, offer her a lien on the property for that amount if she will sign off a quit claim deed to the property.

If this is agreeable then open an escrow at a title company located in your local area. This will cost approximately $150.00 to $300.00 which in the end will be a small amount to pay for the service you will be getting and the relief you will have later when you decide to refinance or sell the property. Make sure this entire transaction take place at a title company. I can not express this point enough.

The other option it to come up with the $2000.00 and pay your girlfriend.

This is why I don't recommend Girlfriend/Boyfriend real estate purchases, because things get really messy.

Being married there are rules to follow.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

I agree with the first 4 people - but here's the deal: if she only paid in 2,000 dollars toward the house she doesn't really have - s*hit comming to her - that all went to interest anyway (all front loaded) I can see her wanting to get her name off of the mortgage - but she does not deserve much more than that.

I would offer her one thousand and a quit claim deed signed by her and kept by you - she will then no longer be entitled to any part of the home if you sell it. If you do get a lawyer she will be lucky to come out so well.

After she quit claims you need to take her off the mortgage. - I can see how this might be hard with your credit issues. It is a tough situation. Lawyer may be best way to go.

Answer 4

Being only a girlfriend I can not see her taking action against you in regards to the home...however if her name is on the contract then she may can be reimbursed for the money she put into the home. It all depend on the agreement you all made prior to purchasing the home. The written agreement is what will stand in court.

From a legal stand point if you & her came to an agreement for her to move out it seems as if she do not have much to stand on. And getting a Real Estate lawyer may just be a waist of their money. REMEMBER! You have to always read the fine print and get a understanding of what you are getting into. Good Luck!

Answer 5

You need to get her name off the house paperwork. Not just for her good, but for yours.

--If you choose to sell, do not give her the full amount she wants. Give her a prorated amount of the final amount or residual equity. Why would you take this amount out of your share and not hers???

--If you choose to refinance, do not give her the full amount she wants. The refinance is caused by the two of you splitting. The two of you need to share in this expense.

It doesn't appear that the issue has gotten nasty between the two of you. If it does, remember that she got an attorney. In a scrap, whoever has the attorney wins. So be careful and see if you can find some reasonably-priced legal assistance.

Answer 6

First you should order an appraisal of the home or a Brokers opinion($80.00 price), or an apraiser (appraisar at a price of $300.00 carries more weight), then deduct the mortgage balance from the apraise value and that is the equity that you should split half and half. If you treat the home as an investment you should split all income and expenses in half. Next get a loan refinance and pay off your ex. end of the story.

Answer 7

You say you purchased a home WITH a girl. Obviously, given what's transpired she owns a portion of the house, right?

It sounds like they all want her liability in the house to be extinguished. I don't blame them. What would have happened to her if you'd ceased paying the mortgage. If the liability is joint and several then she would have been responsible for the ENTIRE mortgage.

Your girlfriend can indeed probably force you to sell the house so she can realize her share.

The details depend on the precise circumstances and relevant state law. See an attorney.

Answer 8

First of all I'm surprised a judgement was made against you with Discover being that discover card just got a slap in the face from the supreme court for charging too many fees and then trying to collect. You should research this further, you got a raw deal. As far as the house...u didnt mention whose name it is in?? If ur name is on the house she cannot do crap. See a lawyer. Go to your local bar association. They will hook u up with a knowledgeable lawyer for a low fee (usually 25 dollars) you can visit them initially for this 25 dollars and ask as many questions as you want. Just make sure to come prepared with ALL documentation. Good luck.

Answer 9

Things aren't as bad as they sound. The easiest solution to your situation is to refinance the mortgage in your own name for $95,000 and, at the closing of the refinance, she has to give you a deed conveying all of her interest in the property to you, and you will give her $2,000. This way she gets what she wants (her name is off the mortgage) and you own 100% of the house.

Even though you are increasing your mortgage amount this actually works out to your benefit. If she wanted to get nasty she could insist that the house be sold and she gets 50% of whatever is left after the mortgage is paid off.

Answer 10

She would be responsible for any debt that would happen with the sale of the house as well.

For instance, if your final debt would come out to 4k (which would be th 6k minus the 2k you gave her), she would have to pay 2k. Therefore, she gets nothing, you pay 2k, and you are out a house. There is nothing beneficial for either party in that deal and she would only be doing it out of spite. This will play heavy in any kind of decision made.

If you purchased the house together, and she is still on the contract, you could ask her to pay the back mortgage for the past 1.5 years. You both went into the house together, and that is how you ended up with this debt.

"I tell you what, I won't try to force you to pay 50% of 1.5 years worth of mortgage payments, and you can forget about the 2k"

Oh, and get a lawyer... NOW