I do not want the house and my boyfriend cannot afford it on his own but he wants to stay in the house and the relationship so he is making selling difficult. How can I get out of the mortgage and/or keep the sale of the house going forward?
2007-03-05 05:18:23 · 13 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Property ownership is actually a stronger legal bond than a marriage because there is something tangible. Just as with a marriage, you will need to have you assetts divided. You should contact a divorce attorney immediately. In the end, it may take a court order to sell the property.
Also, make sure the mortgageis being paid.
2007-03-06 03:47:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
How long have you lived as a couple? Do you have any kids? The reason I ask is because some states have common-law marriage laws. If you've lived as man and wife for long enough in the right state you may be married under the eyes of the law.
NOTE: This does not get you out of the mortgage payments. But, you may be able to take him to court and show he can't pay the mortgage and force the sell of the property. Otherwise, you are completely screwed. Also, do not due a quick claim deed. Those can take you on or off a deed for ownership but have nothing to do with be liable for mortgage payments. Also, do you have other things in both your names? Credit cards, cars with payments, anything with payments due? If so, you are screwed here as well. You need a lawyer today. You're first sentence to them should be, " Yes, I know that I should have not joined myself at the financial hip with a man I'm not married to, but this is the situation. Can you help me?"
But, don't despair. Dave Ramsey calls this stupid tax-money you lose doing something stupid. It doesn't make you stupid. Doing it over and over does, but everyone makes mistakes.
Be aware, before this is all over, your credit will probably be trashed. So, be on a tight budget and save, save, save. Things are gonna be lean for a few and a day.
GL
2007-03-05 05:45:42 · answer #2 · answered by ontopofoldsmokie 6 · 0⤊ 0⤋
This is a tough pickle. I don't believe you can force him to sell without getting Lawyers involved...and nobody likes having to do that. Taking it to court would probably end up costing you both more money than its worth. so I would propose an off shoot solution.
No doubt, this home has at least one spare bed room. If it does you could make a deal with your soon to be "EX". that you may leave, how ever since you are tied to the house via the mortgage that you have a right to rent out the spare bed room, and from the income of the rented room your half of the mortgage payment will be covered.
End result(assuming we all act like adults)your burden of the mortgage is lifted, and your boyfriend would be financially free to stay in the home.
I know that you may have many other circumstance than what you have presented here. So, if this compromise cannot work between you two. let me know. And I will try to help. Good luck...I mean it! I know how bad these things can be.
2007-03-05 05:40:26 · answer #3 · answered by clydesdale1981 3 · 0⤊ 0⤋
You are under the legal term of joint tenants in common, which means that both of you are liable for the mortgage, and both of you must sign for the sale of the property. Even if you were able to carry the mortgage payments yourself until sale, he could still prevent you from showing the house, or from completing the sale simply by witholding permission to show or his signature on the documents.
You can't kick him out of the house, short of a restraining order or legal separation, because as part owner, he has a legal right to occupy the premises.
You will unfortunately, need a lawyer to dissolve the legal relationship you have with him first, before you can get rid of the property. If either of you defaults, then it will ruin the credit history of both persons for a long time.
I am sorry, but there is no easy or clean way out of this.
2007-03-05 05:30:10 · answer #4 · answered by phantomlimb7 6 · 0⤊ 0⤋
Getting a joint mortgage with a boyfriend is a very, very, very, very bad idea. Now you cannot just walk away from the relationship. You are responsible for the full amount of the mortgage, because if he doesn't make the payments, then the bank will come after you for the full amount. By the way, did I mention that getting a joint mortgage with a boyfriend is a very, very, very bad idea?
You can't legally kick him out of the house which is his home and you can't walk away from the payments without ruining your credit for the next 10 years or so.
2007-03-05 05:24:24 · answer #5 · answered by jonmm 4 · 0⤊ 0⤋
You can't get out of the mortgage. Don't give up on the sale because if you don't sell, you move out, he doesn't pay the mortgage, the property will be repossessed and you are liable for the balance of the mortgage that they are unable to recover. You will have to pay either alone or together, whoever they find to get the money out of. This happened to me and I had to pay a lot of money. It took me years to recover. I still can't get a mortgage because I am blacklisted. You need to get a solicitor involved and make him sell. Its best if you don't leave the house. CAB will advise you further if you don't have money for a Solicitor but you can usually pay £35 for half an hour with a Solicitor to get an idea what you can do and they may write a letter. Sorry, its a nightmare scenario.. you have to be very hard about getting him to sell. Best wishes...
2007-03-05 05:37:18 · answer #6 · answered by JENNIFER 3 · 0⤊ 0⤋
You never get into a joint account without being married! Next your stuck, he has to sign the paper work to sell, and if he doesnt make the payments they will come to you for them. In most if not all states visiting a lawyer is free the first visit. I'd see a lawyer in your state and let him give you some opions. You might get him to buy you out, remortgage it in just his name. If he cant afford it, that means he wont beable to make the payments and if you dont or cant that will mess up your credit. Id move out let him see he cant make the payments, after a month or so maybe he'll come to his senses and sign the papers to sell it, if not the bank will start creating drama in his life and help him see things more clearly. If you can try to save what the payments are so when the bank forecloses and he signs you can pay most of whats owed to save your credit then sue him for half in small claims court.
2007-03-05 05:34:31 · answer #7 · answered by letthepartybeginnow 3 · 0⤊ 0⤋
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2016-02-10 19:36:01 · answer #8 · answered by ? 3 · 0⤊ 0⤋
Unless he buys you out, or you buy him out, there is nothing really you can do. He could remortgage on his own, but if he wants to play games, then he's hardly likely to do that. I think your best bet is to tell him that if he wants to stay in the house, then he'll have to buy you out (this may only end up being a few grand, depending on how much you've contributed etc...the days of 50/50 are long gone!), and if he can't do that, or refuses, then say you'll take legal action.
2007-03-05 05:26:14 · answer #9 · answered by Anon 4 · 0⤊ 0⤋
Ask him to buy you out. If he refuses, bring home a new boyfriend and do it with the guy right in front of him. I think he may offer to buy you out after that...
Otherwise its a very tough situation and you will have to just hope your BF comes to the conclusion that you need to sell
2007-03-05 05:31:24 · answer #10 · answered by Anonymous · 0⤊ 0⤋