What are the options when two, unmarried people own a home a

hi frogfootamy,

you can sign a quitclaim deed in your boyfriend's name and give away the property to him. once the property is solely his, he can refinance the mortgage in his name. this will release you from the liabilities of the mortgage payments as well as the property. as far as selling the property is concerned, you cannot do that without his consent.

thanks

Frogfootamy,

I'm in a similar situation with our house. We were to be married in 2008, own a home together... He broke up with me because he met someone else. For months, I have continued to pay half the mortgage while providing him with real estate contracts to sign, doing everything I could to resolve our house (sell, rent, buy each other out) and he has refused everything! To make matters worse, he continued to bully me out of our house with his hostility, aggression, continually having his new girlfriend over to our house, forcing me to move out. No one should have to put up with/live with that!

I gave him several months notice that I would stop making payments and he would be responsible. Since I have stopped my half of mortgage payments, he has stopped making payments too and is forcing a foreclosure and blaming me! I am at a loss of what to do too....

I have spoken to real estate attorneys who tell me my only options at this point is to get an attorney to force a sale, sign a quit claim or foreclose. Most likely you have already lost a lot of money on your house like I have and so to pay more money for an attorney is probably not topping your list. Signing a quit claim is hard to swallow, right...you sign over to him and he gets everything and in a few years will make the money back on the house while you walked away with nothing (except saved credit apparently) or you foreclose... sounds like you are both able to live amicably together so you would both live there mortgage free for probably around 9 months while in foreclosure and eventually your credit will be affected.

Let me know what you're going to do and what you have found out! It is so stressful...

Jerry, thank you for the information. What do you mean I will have to pay the deficient amount if a short sale? Isn't that determined by state or if they place a judment? or am I confusing all this information? Thanks

Welcome back whatodo,

In case of a short sale, a lender may ask you to pay the deficient amount resulting from the sale of your property. If you cannot pay the deficient amount, then the lender may even place liens on your other properties. But if you live in a state which has anti-deficiency laws, then the lender will not be able to pursue you for the deficient amount.

My friend and her boyfriend own a home together but they broke up and he lives in the house with their teenage daughter and he pays the mortgage. My friend has alot of depts and she was woundering if the creditors can try and go after the house to claim their depts. She does not want this to happen but can the creditors do that to get what they are owed. What would happen to the boyfriend if they did try to go after the home. IS there a deed they can do.
Thank You

Hi Loralye,

If your friend is on the title of the house, the creditors might come after the house. But if her boyfriend is making the mortgage payments for the house, I don't think there is any chance of foreclosure by the lender. A transfer in these condition might not be possible as it can be considered as fraudulent.

Thanks,

Jerry

loralye, if your friend defaults on her credit card accounts, the creditors could then file suit against her. if that suit is successful, they would be awarded judgments. those judgments would detail a specific payment plan. if your friend then defaulted on the payment plan, the creditors could file liens against any real estate she owned...they could garnish her wages...they could take assets she might have in a bank account.
i can't say what is necessarily typical, but in my opinion, they'd go after her wages first, bank account(s) second and the home last.

in the even that a lien is placed on the home, it is possible that a creditor could feel it necessary to foreclose...this is highly doubtful, though, in my opinion.

Thank you Jerry and George You both were very helpfull

it's a pleasure to be of service.

My boyfriend and I were together for 14 years. He left, and moved to another state. We bought a trailer together which I am living in and making the payments on. I want his name removed from the title. He's very bad with money, and I want to make sure he can't hurt my credit that
I have. Thank you

He cannot hurt your credit if his name is on the title. However, is the loan in his name too? make sure you do not miss a payment.

My exboyfriend lived in the house we purchase together, he is on the mortage alone and is paying the mortage, we are on the deed in joint tentency. We saved a purchased the house together, he refinance while I was in school full time which took my name off the mortage but I am still on the deed . Our relationship ended I was force to move out because I his hostility. All of my belongings and furniture we purchase together are in the house. He wants me to do a quick deed. I don't want to because I invested in the property too and I am dead broke and in debt with credit cards from stuff that is in the house that he is living in.

Get a lawyer to sort it out for you.

vee, i am anticipating your answer to eric's suggestion - that you cannot afford a lawyer. please be certain that you won't get too far without a lawyer, so even if your debts are stacked up and your income too little, it still is worth your trouble to seek out an attorney. who knows - maybe your former boyfriend will be forced to pay the legal fees.