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Being forced to sell or refinance!

Posted on: 23rd Aug, 2012 05:47 pm
my ex boy friend helped me out when i was buying my first house by co signing for me since my credit did not make it alone... 3 years later he remarried and a few months ago filed a complaint against me based on me "not keeping" my deal and requesting that i turn over the house to him for a. monies he at one point or another gave me (he did help me out later financially since i was broke from the purchase of the real estate property) and b. to remove himself from any liability having to do with me. i agreed to work things out and now his attorneys are sending me an agreement wherein i have 60 days to find refinancing and another 60 days to close, and if i cannot refinince within thatntime frame that i put the property for an agreed listing price. i am a nervous wreck! i can't sleep over this! i lost my job shortly after i purchased that property so i moved out of it and rented it... i haven't found a job and my credit is still not good enough to be approved! the house thank goodness has been paying itself since i've worked at maintaining tenants... i dont know where to start with trying to see if i can qualify for refinance.... i see that the best decision would be to sell it, but i have spent so much time and effort in that property in renting it and finding tenants every year and dealing with repairs etc... i dont think it's fair that now that my ex wants his name out i have to sell... on top of it he is claiming the monies he gave me to be paid to him from the refinance or the sale... i just feel so pressured into this. and i got an attorney who is telling me that it's the only solution... any thoughts or suggestions i would appreciate... :(
Hi Tcreature!

Welcome to forums!

Your ex-boyfriend is also one of the owners of the property. If you don't remove him from the mortgage, then he can ask you to sell off the property so that he can get rid of the loan. There is nothing wrong in that. You can speak to your ex-boyfriend and try to sort out the matter with him.

Feel free to ask if you've further queries.

Sussane
Posted on: 23rd Aug, 2012 08:29 pm
Hello Tcreature,

Now is the time if you are considering a loan modification to achieve absolute success and lower your house payment. They are very simple to apply for and easy to complete.

:idea:
Posted on: 23rd Aug, 2012 11:09 pm
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