Ex-boyfriend and I bought a house and are no longer together. He told me to leave and he will pay the mortgage. Now, he wants to get roommates (2 to be exact). However, he told me that I was not allowed to get roommates if he left. Whatever, I can't afford the place even with 2 roommates (and neither can he but you can't tell him that). I want him to sell but he won't because we will have to come out of pocket to sell (we just refinanced over 100% of the value of the home so there is no equity). Here's my questions: 1. Do I allow him to get roommates? 2. Once the house gets value on it (maybe 2 years) I know I can force him to sell, will I still be entitled to the sale proceeds? 3. Should I make him sign a paper stating I can leave (I know it will do nothing with the bank but it may help. HELP!!
2007-01-29 05:29:31 · 11 answers · asked by lissabell99 1 in Family & Relationships ➔ Marriage & Divorce
He wants you to leave so he can have the full proceeds when the house is sold. If you move out and he makes all the payments, a judge may rule in his favor and despite the fact that the house is legally half yours, you may lose all rights to it because you didn't help make payments. If you know for a FACT that he can't make the payments, even with two roommates, sign off your legal rights and give him the house. That way when it gets repossessed, your credit rating won't get trashed.
2007-01-29 05:34:01 · answer #1 · answered by Harley 5 · 0⤊ 0⤋
Ok, this really sounds like the deal of a lifetime now.
I'll assume that you benefited from the re-fi over the value of the home.
If you can walk away right now, you are golden. You get to leave him with a home that is worth less than what is owed.
I don't think it's reasonable for him to make mortgage payments from today forward and for you to get some of the increased value of the home in the future if you are no longer making payments.
If you want to remain one of the investors in the home, then you have to make payments.
If you don't pay part of the mortgage, I don't see how you could in good conscience ask for any future appreciation in the home.
He COULD require that you produce your half of the negative equity, essentially that you buy yourself out of what is owed on the home in excess of it's current value.
The best answer may be to just walk away, if he will re-fi the home in his name only.
2007-01-29 05:51:59 · answer #2 · answered by camys_daddy 5 · 0⤊ 0⤋
And just what makes him think he's the boss of you anyway? If you're a grown woman, do what the hell pleases you and piss on what he thinks. As far as your questions go, Here's my answers.
1. Don't allow him to get roommates.
2. As long as you're a shareholder of the house, yes.
3. I don't recall you needing permission to leave. Therefore, I don't feel like a paper stating such is needed.
In the courts eyes, both of you (if listed in the lien at the bank) are responsible for the debt owed on the house. Especially if you co-signed or you both bought the house as joint owners.
My advice: get a lawyer, it sounds like you're going to need one.
2007-01-29 05:41:13 · answer #3 · answered by genetic_traitor 2 · 0⤊ 0⤋
You need to see a solicitor.
If he slips into debt whilst you are not living in the house but it is still in both names then it could reflect against you. If he falls behind with the mortgage again if it is repossessed it will reflect on your credit rating.
Although the cheap option may seem the best way it is really advisable to see a solicitor and get it all drawn up in writing so whatever happens you receive your "share" of the house and to make sure your credit rating is protected.
2007-01-29 05:35:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your best bet is to get taken off the mortgage. But, he will have to refinance in his sole name or him and someone else. That could be tough. Sounds like there is no equity in the house but if there is you should get your fair share from him. If you two cannot agree on what is to be done then you can seek a court order (with help of a lawyer) to partition the house. Bottom line is that it is best to consult a real estate lawyer on this one.
2007-01-29 05:36:05 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I would speak to an attny regarding a quick claim deed. AND getting your name off of the mtge as well. Since it's 100% financed, it sounds like the bank may wind up with it, if neither of you are able to carry the mtge.
2007-01-29 05:37:33 · answer #6 · answered by iyamacog 7 · 0⤊ 0⤋
Get it all in writing. As far as the sale of the house, make him buy you out now. Consult a lawyer.
2007-01-29 05:35:55 · answer #7 · answered by A B 2 · 0⤊ 0⤋
Sell him your half of the house. Then it doesn't matter. Let him keep the mortage and the debt. GOOD LUCK!
2007-01-29 05:36:26 · answer #8 · answered by Richard Bricker 3 · 0⤊ 0⤋
if you want the house then get his name off the deed to the house and no you can't force him to sell you aren't married to each other so you can't take him to court to make him sell.
2007-01-29 05:35:53 · answer #9 · answered by cutiepie81289 7 · 0⤊ 1⤋
Seek legal advice NOW!
2007-01-29 05:36:31 · answer #10 · answered by Ms Mat Urity 6 · 0⤊ 0⤋