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| *Loan,banking and credit>>>bad credit mortgage |
How do you get out of a mortgage when the other won't sell and can't assume the loan because of bad credit? |
The mortgage is about 5 years old on a house I part own in Colorado. I've been trying to get off the title and mortgage but my ex-fiance seems to blow me off each time. I don't care about the money I just want out he can have the house. I've told him several times but I guess he does not qualify for an assumption. Now what? I've told him over and over again I don't want to take this to court....but it may be my only option. My credit is getting hit hard because he pays the mortgage late, a lot. I can't afford the house after a career change. He's been paying by himself for years. I told him I want to sell it or just get me off the mortgage. Quick Claim will get me off the Title but not off the mortgage! The mortgage is what is affecting me credit score. It's a fairly new ranch style home in golf course community big corner lot....it will sell if he'd let it. Please help no one seems to have any answers! I've more then paid for my mistake of going in on a house and being naive! DOES YOUR EX WANT TO REFIN?IF HE DOES HAVE HIM EMAIL ME I DO MORTGAGE FOR PEOPLE WITH BAD CREDIT JOHNG@OLDMERCHANTS.COM I think you need to talk to a real estate professional. This situation is a little out of the realm of yahoo answers. good luck! Confer with the mortgage broker that sold you the house and mortgage aggreement. First - sign "quit claim papers" on the property - since you don't care about owning any part of it. Carry this with you when you confer with real estate brokers about how to remove your name from the mortgage.(this shows that you really have "no interest in the property." Find somebody to love and be loved - you need an intelligent man to lean on. conferring with a lawyer is not a bad idea - it is just expensive and "somewhat" certain. * sweet talk to him, to encourage him to refinance - he can refinance on his own and even lower his payments. Let this be a lesson to others who want to purchase real-estate with someone other than a spouse..... don't do it. When there is no "divorce" involved, each party is individually responsible for the entire debt. Bad choice..... But good luck! TO MOEMAN63: I'm sure your comment was the last thing she wanted to hear....she asked for advice, not your self-righteous soap box comment, as if you haven't dogged a woman at some point in your life. Anyway girl, if you don't want to buy him out, try to get him to refi so that he can buy you out. I would try to buy him out (he's probably dollar driven) and put the property on the market. Good Luck! School of "Hard Knocks" Find a GOOD Real Estate Attorney. You may find that you could become the aggressor and sell the property right out from under him. You may also find, depending on the circumstances, that he may be held liable for damaging your credit. Although it's hard to say not knowing all the details, one thing is for sure, you don't have to sit back and take it and a good attorney should be able to offer some options. Get tough!!! Let him start begging you to back off!!! |
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