2007-07-08 03:53:25 · 11 answers · asked by Tifffany P 1 in Business & Finance ➔ Renting & Real Estate
You don't unless he refinances it in his name alone.
2007-07-08 03:56:43 · answer #1 · answered by crankyissues 6 · 0⤊ 0⤋
you should check the laws in your state but generally the lender will not let you off the hook. the home will have to be refinanced and hopefully one of you can afford the home from the single income. real estate is a great way to build wealth so if you or your ex-boyfriend can't refinance the home from a single income, you will have to sell it or rent it out and make some money. i would also look into the appreciation in your area because half the equity is yours so why throw away potentially thousands of dollars. if your appreciation is greater then 7% i would work something out with the ex to rent it out then you could use your portion of the equity to buy your own home or investment property and keep making money with out him.
2007-07-08 11:30:39 · answer #2 · answered by Leroy M 1 · 0⤊ 0⤋
You can get your name of the title very easily but you will be responsible for the loan until he refinances it in his name only. Or you can sell the house.
2007-07-08 11:06:51 · answer #3 · answered by operababe_61 3 · 0⤊ 0⤋
You need to speak with a mortgage expert on this. Contact the company that you worked with when you purchased the house. There may be some legal document that can be signed. If not, your ex-boyfriend would probably need to refinance in his name only.
2007-07-08 10:57:24 · answer #4 · answered by jamie5987 4 · 0⤊ 0⤋
You can't. The bank isn't going to let you off the hook just because you broke up. He'll have to buy your half from you, but that menas he will have to get a loan for the full amount with just his income. Or you'll have to sell the house.
2007-07-08 10:59:46 · answer #5 · answered by railbird 3 · 2⤊ 0⤋
I'm pretty sure you can't just take name off a loan, might have to just sell house and pay it off and go separate ways...however maybe if you both goto place that gave loan and explain they can have you both sign ure name off?
2007-07-08 10:58:02 · answer #6 · answered by orntelove 2 · 0⤊ 0⤋
You pretty much have two options:
1. Sell the house.
2. He has to refinance the mortgage in his name exclusively.
Anthony
http://www.atozlender.com
2007-07-08 16:08:02 · answer #7 · answered by Anthony 3 · 0⤊ 0⤋
I would talk to your boyfriend before you talk to the loan company. If you say the wrong thing to the loan company, they may call the loan.
2007-07-08 11:02:29 · answer #8 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
buying a home with your boyfriend? thats a horrible idea bc the law will no protect you as well as if you were formally married. you will need to speak to real estate attorney. he would have to agree to removing your name. there would need to be some legal documentation.
2007-07-08 11:14:20 · answer #9 · answered by spadezgurl22 6 · 0⤊ 0⤋
Consult a real estate attourney. This can be very different state by state.
2007-07-08 10:56:19 · answer #10 · answered by PlanetBerry 2 · 0⤊ 0⤋