My bf & I have been together almost 2 years, and we bought a house together about 2 months ago, and things haven't been going so well in our relationship, and the problem is we are both on the mortgage but I wanna break it off with him. So is there anything I can do to get off the mortgage and just let him keep the house?
2007-06-23 11:15:13 · 2 answers · asked by Dave 2 in Business & Finance ➔ Renting & Real Estate
Great idea on the buyout, however I always believe its a great idea to make sure the transaction is smooth and protects your interest.
What would happend if the property had a undisclosed judgement, or IRS lien that you were not aware of?
Make an appointment with a real estate attorney , it will be worth the piece of mine and protection.
Good luck
2007-06-23 11:55:01 · answer #1 · answered by Jimmy 5 · 0⤊ 0⤋
Sell him your equity and have him re-fi. That's the ONLY way to get yourself off the hook.
Whatever you do, do NOT just quitclaim your share to him without him getting his own loan! You'd lose your rights to the house, but would still be liable for the mortgage!
2007-06-23 18:20:56 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋