Cupid
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Whoa.. you certainly got yourself into a sticky mess.. sorry to hear that. I have been right where you are. My ex husband and I bought a home then got divorced a year and a half later.. we had no choice but to sell. Luckily the market wasn't as bad as it is now.. but it still took a year to sell it. Unfortunately, you are stuck with it and have no choice but to sell it and split the proceeds or split the amount due on the mortgage after the sale. If you are not going to profit from the sale, you should try renting it out.. or one of you should try to buy the other out.. and rent it out. Hopefully this was a lesson learned for you.. and I am sure it was. I feel bad for you.. but hang in there and it will work out eventually.. it's just going to take time, especially in this awful market. If you sell, make sure you work with a highly recommended realtor and not a "newbie" because you need to get this house sold as soon as possible. New realtors are terrible because they take every offer that comes to the table.. then you get stuck in a worse off position then you were in the first place after the sale doesn't go through.. time gets wasted and the market gets worse. Best Wishes! |
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clbowman06
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Why dont you both agree to rent it out to someone else until it sells. It worked for me! |
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xxheavenly-creaturexx
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best to get it on the market asap!! quicker it sells, quicker you don't have to live under the same roof!! |
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Pam H
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Spend the money and consult an attorney. They can tell you what your options are. |
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yippyforskippy
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Well you are correct in not wanting to get foreclosed. Best case scenario..... try to put it on the market and get whatever you can for it. Although you could always get friends and rent it out to them, while you got an apartment, perhaps he would get sick of them and move out. Just options to where you wouldn't lose your shirt and tarnish your credit. |
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Gweniveree
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First, go see an attorney - do you have proof that you paid all the expenses in the beginning? Take those with you. You don't have much equity in the home - get some expert advise! Don't just walk away! Good luck! |
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Patricia S
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Is the mortgage in both of your names? Since you state that you paid the Realtor expence which is usually included in the loan amount that inclines me to believe that it may be in only your name. If so then since you are not married you could just evict him(some states require you to do it by the same laws as you would a non paying renter). If it is in both of your names... It sounds as if he is just being difficult. He doesn't want it but he doesn't want you to have it either kinda thing. The only thing I could imagine doing in such a situation is taking it to court which in all honesty would probably result in the judge ordering you both to sell it. You could always try selling it. You may be surprised. It really doesn't cost anything to try to sell and if it doesn't sell for what you guys ask for it, maybe he will come to his senses by them and let you buy him out (if he invested anything in the first place). |
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Jo
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Have you talked about renting the house to someone? That would get you both out of the house & would cover the mortgage till the market turns around. |
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Jessie H
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I would check with a lawyer. Foreclosure will sit on your credit report for 7 years. |
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WhoMe?
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Wow, what an awful situation to be in. You have my sympathy. However, I hope that this serves as an example of why it is NEVER a good idea to do something like this with someone who is NOT a spouse. A boyfriend/girlfriend relationship most probably WILL change (including for the worse), as you so horribly found out. Is there any way you can buy your boyfriend out of his half??? This would be the best thing for you because you could then own the entire home yourself and could obviously do as you please with it, including selling it whenever you want and can, vs. trying to sell it in this bad market right now. Another option for you would be to try to find someone who could rent your half, so you wouldn't have to live there anymore. Of course, you would still have to monitor the condition of the house as you would still own half of it. One other thing - how about trying to sell it to one of those "We Buy Ugly Houses" companies? You really don't have a lot of other options, I'm afraid. |
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Qtea
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This sounds like a situation that needs legal intervention. Neither of you is going to give up the house, but the fact that you paid all the move in costs and renovations, etc., gives you the upper hand in court, even if he was helping pay the mortgage. It is better to get a lawyer involved at this point. You may have to sell in spite of the market, but you should try to get some of your initial outlay paid back to you from your ex, as he benefited. I am sure hoping your kept all your receipts and cancelled checks.
Foreclosure is not the answer. Been there, done that.
As far as living with him under the same roof, that is something you will just have to put up with until you get the matter resolved, because, as in marriage, if you abandon the premises, that could go against you and he obviously knows that.
If there is anyway the two of you can settle this amicably with out the interventionof an attorney, see if you can do that. Emotional relationships involving money are always more emotional when they end. I wish you the best of luck. |
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Terence L
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You could try just renting it out until the market gets better (which may take a while since the market is going down right now). You'll also have to deal with him until you do sell. If you want to cut tie with your ex, best thing to do is, just sell it even though that sucks. Next time, just remember, never make big purchases like that until you're married or just leave it on one person's name and make arrangements about the payments. |
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Pattythepunk
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Well Mary as the old saying goes. Shack up in haste & repent at liesure !
Get yourself a replacement boyfriend and move him into the house , have wild noisy sex & drunken parties, your old flame might take the hint ! |
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Katie143
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Try renting it to someone that way you don't have to take a loss on the sale and you won't have to live with him. Do not let your home get foreclosed upon. After foreclosure proceedings it is going to be at least 2 years before you can purchase a new home. Also, your credit will take a hit that is really hard to bounce back from. Good Luck! |
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asoldierswife
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Foreclosesure is just a threat that you'll lose your credit for life. So many millions of people has gone into foreclosure that it's now pastover by alot of businesses. Money talks and new papers are signed in a lot of situations so don't let that be a great concern. It's not a good thing in any means but it won't ruin you for life either. Several people I know had forclosures. Thirty years is a long time to commit to and we never know what situation may arise. Several of those people now have bigger and better home with foreclosures in their background. He's being selfish. He doesn't want it, you both can't have it together. He doesn't want you to have it. He'd rather sell in than for you to be happy. You gave him a choice, if it has to go into foreclosure your mortgage coming will give you a choice to purchase it without him just to save their butts from paperwork and going through all the legalities. So, leave hun, let it go, let him go. In the end if you want the house before it goes into foreclosure it could be yours anyways. Also it takes six to eight months for foreclosures to be completed and that will give you time to get your act together, get the credit you need and start your life over. After the foreclosure nothing you have acquired before than can be taken away. So don't procrastinate. Get yourself together. You have until the end of the year. Good luck hun. |
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bob shark
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Have an agreement written up by a lawyer, that in effect makes both of you put the house up for sale and each be responsible for 1/2 of the loss. |
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Cheryl
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Can one of you buy the other one's half? |
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tone
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Get a lawyer. Yes, you must sell it. Put it on market and sell for whatever you owe and walkaway. Live there til it sells just act like roomates. Life is difficult. sorry. do not do foreclosure. if you price house right and keep it nice, it will sell. this market horrible is overrated as many houses are way overpriced therefore not selling. if everyone was realistic they would sell property. |
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The Lemur
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Depending on how much equity you have in it you might be able to sell it to one of the buys ugly houses people. What city are you in? If youre in DFW email me. |
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Cookie Girl
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depending on where the house is located, the condition and the terms of the sale, will determine weather or not the house sells. It may take longer to sell than you are used to. The market's not bad, just different. There are still people buying and selling their homes. Don't throw in the towel until you try to sell the home. Just be prepared to wait a little bit. If you decide to foreclose, it only stays on your credit for about 7yrs. But I wouldn't do that. That's should be saved for if you can't make the payments. If you and your boyfriend have agreed to sell the house, then give it a try. Like I said before the market's not bad, just different. |
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quantumrift
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Is the mortgage in BOTH of your names? If so, then one of you MUST sign a "Quit Claim Deed" (or equivalent). THEN either you or him depending on who is 'selling' the house as the 'owner', need to sell it. If you want to move it fast, try:
http://www.homevestors.com
You probably wont' make a profit but it will get you out from under the mortgage.
OTHERWISE, you has best SEEK LEGAL COUNCIL now and don't waste time posting questions HERE! A foreclosure will haunt you for YEARS.
Good Luck. Maybe next time be more selective who you 'move in' with!
--QuantumRift |
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hottamalee33
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Sorry to hear things did not work out for you. You should never make that kind of purchase with a "boyfriend." Your credit will definitely be affected if you foreclose. I would strongly suggest you get a lawyer to find the best thing to do. I lost my very first house when my husband defaulted on the morgage payments. We are still together but never again will I ever put my name on anything he buys now that I know he does not manage his money correctly! The dummy even filed bankrupt and didn't even make good on that! Get some legal advice definitely. |
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Don M
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I suggest you find someone to move in to share expenses temporally tell them up front the house is for sale.
Tell your boyfriend his share is half the expenses or hit the road. And tell him you will put the house on the market and deduct his expenses from the sale.
Inform him that he is not getting a free ride either it will be that way or the highway you are not his financial institution.
It sounds like this guy is a jack off.
Introduce him to a lineman on a football team.
Check with a realtor and sign the entire property over to him and get your name off of it. He wants you to pay the bills. With your name off of it you move out and let him assume the responsability. |
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zaxton6
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try renting it out. |
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♥♥The Queen Has Spoken♥♥
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Unfortunately it sounds like you are pretty much stuck with staying in the house until is sells.
Do not let it go into foreclosure if at all possible. |
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Lost_in_love
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Okay Mary, tell him let's us leave out our emotions for a while and think objectively. Tell him to give you one hour of his to explian your situation. it is clear that real-estate affairs in yur country is very different from ours, so i can give advice but that...good luck |
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Zuka
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I hope you kept all your receipts for the expenses you described so that you can recoup them later. Looks like you own more of the house than he does. Don't ruin your credit over this. Go see an attorney. You might be able to get him out of the house. Hopefully, then you can rent it out and recoup some of your move-in costs from the rent before you split the rest with your ex.
Good luck. |
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heather p
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i know its difficult because of expense but you need a solicitor ,.find a lady solicitor . |
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