Since my brother isn't living up to the business agreement we made prior to me buying my home which is for him to pay half the mortgage which is $1100.00, I pay the other $1100. and the rest of the household bills, now I am going into default because I can't pay $1100 plus the houshold bills, water, electric/gas, taxes, phone, etc. plus an additional $600. the difference he suppose to pay. What can I do?
2007-11-14 07:06:23 · 4 answers · asked by Moe 2 in Business & Finance ➔ Renting & Real Estate
Since you're both responsible for the entire $2200 payment in the lender's eyes, you're going to have to find a way to pay it, get a roommate who'll pay that much in rent, or sell the house. Does your brother still live there? You're not in a very good position.
2007-11-14 07:10:43 · answer #1 · answered by Debdeb 7 · 0⤊ 0⤋
You made a huge mistake in allowing someone else to be responsible for 1/2 of your mortgage. Contact the lender, let them know what is going on, and then either find a roomate, sell the house, or get a 2nd job. There isn't a whole lot you can do...you are responsible for the mortgage.
2007-11-14 15:15:09 · answer #2 · answered by KitKat 6 · 0⤊ 0⤋
sorry to say, but take your brother to court. Then sell or refinance the house.
2007-11-14 15:14:11 · answer #3 · answered by troop there it is 3 · 1⤊ 0⤋
Sue him.
2007-11-14 16:15:31 · answer #4 · answered by StephenWeinstein 7 · 0⤊ 0⤋