Tuesday, December 22, 2009

Can I sell my half of the mortgage to a bank?

I am currently broken up with my ex and we own a home together with both of our names on the deed.


I am moving out and want to sell, but he won't. So can I sell my half of the mortgage?Can I sell my half of the mortgage to a bank?
NOPE.


u can however do a 'forced sale' where he either buys u out and off the mortgages or u/he sell the house.


either way expect of have money loss.


NEVER EVER do a 'quit deed' that takes u off the deed and control of property BUT NOT the liability of the mortgage due.Can I sell my half of the mortgage to a bank?
No. In order to get off the original mortgage, he needs to refin in his name only. If there is any equity, it would be split.





Until then, you are responsible if he doesn't pay.





THIS IS THE REASON NOT TO PURCHASE REAL ESTATE IF YOU ARE DATING.
Nope, you sure can't.





You'll have to go to court and ask a judge to force the sale of the home, and you will be entitled to 50% of the equity, but ONLY if equity exists.





A judge will give your ex first option to buy you out, but if he can't qualify, a sale will take place.
No, and even in the divorce if he is given the house you might still owe on the mortgage. You don't owe half a mortgage each of you owes 100% it just depends who they can get to pay. I wouldn't move out until the divorce is final and the mortgage is refinanced.

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