Posted on: 18th Aug, 2010 12:45 pm
What are my options if I bring the loan current? Is it legal for him to sign a lease without me on it? What responsibility does his girlfriend have? And any advice on if I should let the home go into foreclosure or if I should bring the loan current for $7,000 and take over the condo?
Hi apeswheeler!
Welcome to forums!
You've mentioned that your ex-boyfriend did not file the quit claim deed that you signed in his favor. Thus, you still remain the owner of the property. Moreover as the loan is still in your name, you can bring the loan current by paying the balance dues plus interest and fees. I don't think it is legal to sign the lease agreement without your permission.
If you let the home go into foreclosure, it would have a negative affect on your credit report. If it's possible for you, then you should bring the loan current.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You've mentioned that your ex-boyfriend did not file the quit claim deed that you signed in his favor. Thus, you still remain the owner of the property. Moreover as the loan is still in your name, you can bring the loan current by paying the balance dues plus interest and fees. I don't think it is legal to sign the lease agreement without your permission.
If you let the home go into foreclosure, it would have a negative affect on your credit report. If it's possible for you, then you should bring the loan current.
Feel free to ask if you've further queries.
Sussane
I had him recently sign a quit claim over to me. just trying to decide if it is worth $7000 for me to bring the loan current then take over the tenatnts, who don't seemt to be the best, then possibly have to pay to get out of my lease in my apt. then take over the $1200 month mortgage? any advice?
I don't want to sound like your mother here, but perhaps if she had warned you about this you wouldn't be in your current situation. NEVER NEVER NEVER buy a house with someone you're not married to, for the simple reason that it is harder to get out of the deal than if you were actually married, which brings more legal protection for both of you. If I were you I'd see about him signing over to you, then you bring the mortgage current and kicking all of the rifraff out of the place and maybe getting a legitimate roommate - i.e. tenant to help you pay the mortgage going forward.