Posted on: 16th Jul, 2009 03:49 pm
I made the mistake of purchasing a home with my fiance. Since we have purchased our home, my life has been hell. I am 9 months pregnant, due in 2 weeks, and I canNOT stand living with this man anymore. I need to find out how I can walk away from this mortgage without having my credit tainted so I can get on with my life. Both of our names are on the mortgage, even though I came up with the down payment with money my grandfather left me when he passed away. I'm willing to sacrifice this to just get out of the agreement. Does anyone have any suggestions?
sadie
welcome to the forum
aks your partner to refinance the house in his name and after that you can always give quit claim deed to him
good luck
welcome to the forum
aks your partner to refinance the house in his name and after that you can always give quit claim deed to him
good luck
sadie, in order for him to refinance the home he will have to be the sole owner. therefore, if quit claiming to him is your desire, it would have to take place before or concurrently with his refinance transaction. i recommend, if you decide to do this, that you do it concurrently. in that fashion, you can be assured that the new mortgage would be in place and your name would be off.
now the question is: can he refinance? are his credit credentials in order, and is his income sufficient to carry the debt? these are critical questions, because any lender that is approached for a loan needs to be able to answer them affirmatively.
it's a shame you're going through this, but you need to tread carefully so that you, he and your baby to be are all protected to the fullest. remember, spiting him isn't in your best interests - working with and cooperating with him is.
now the question is: can he refinance? are his credit credentials in order, and is his income sufficient to carry the debt? these are critical questions, because any lender that is approached for a loan needs to be able to answer them affirmatively.
it's a shame you're going through this, but you need to tread carefully so that you, he and your baby to be are all protected to the fullest. remember, spiting him isn't in your best interests - working with and cooperating with him is.
