Posted on: 25th Mar, 2010 12:00 pm
Hi
I am in the 17th year of a 25 yr endowment mortgage with my partner. I am not happy and secretly want out of the relationship and mortgage. As he pays the mortgage payment only and i pay all the other bills and food which is at least double what he pays a month. What would i be entitled to money wise and could i force him to sell the house or pay me out.
I am in the 17th year of a 25 yr endowment mortgage with my partner. I am not happy and secretly want out of the relationship and mortgage. As he pays the mortgage payment only and i pay all the other bills and food which is at least double what he pays a month. What would i be entitled to money wise and could i force him to sell the house or pay me out.
forget about who makes the actual payments - are you on the deed for the house? If so then you are entitled to some of the proceeds of the sale of the house.
the mortgage note and deed are to different things, and the person that actually makes th payments is pretty irrelevant. Ownership is determined by who's on the deed, liability to pay the loan is determined by who's on the mortgage note.
the mortgage note and deed are to different things, and the person that actually makes th payments is pretty irrelevant. Ownership is determined by who's on the deed, liability to pay the loan is determined by who's on the mortgage note.
Hi Julia,
You can force him to sell the house or buy you out only if you have an ownership interest in the property. So, your name has to be on the property deed for you to claim any interest in the property. You can stop making the monthly mortgage payments if you want. But in case you are on the mortgage deed, your credit will be affected.
You can force him to sell the house or buy you out only if you have an ownership interest in the property. So, your name has to be on the property deed for you to claim any interest in the property. You can stop making the monthly mortgage payments if you want. But in case you are on the mortgage deed, your credit will be affected.