My ex partner and I were together for 15 years, but never married (in Washington state). He refinanced our house and added my name to the home loan 3 years ago, and I moved out 8 months ago. We have tried selling the house (no luck) but my ex stopped making mortgage payments 2 months ago (while still living in the house). Is there any way I can get my name off the loan or protect my credit if the house goes into foreclosure (which is now highly likely)?
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Can I get my name off a mortgage or protect my credit in case of foreclosure?
- Thread starter Devon22
- Start date
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Zigner
Senior Member, Non-Attorney
If you want to avoid the hit to your credit, then you will need to make the payments, as you agreed to do.
I'm not sure if my name is on the title as well... He refinanced the home 3 years ago and we got a better rate by adding my name onto the loan - would that typically involve adding my name to the title as well?
And I understand the responsibility of paying a debt like a said I would - But it is just not possible for me to pay rent in my current home AND pay for a separate mortgage on a home the ex is still living in. That is why i'm looking for other options.
Also, not really a legal question, but is a short sale or died in lieu any better on a persons credit than a foreclosure?
And I understand the responsibility of paying a debt like a said I would - But it is just not possible for me to pay rent in my current home AND pay for a separate mortgage on a home the ex is still living in. That is why i'm looking for other options.
Also, not really a legal question, but is a short sale or died in lieu any better on a persons credit than a foreclosure?
FlyingRon
Senior Member
If you are on the loan, you are as much obligated to pay it as he is. You're not easily getting out of that obligation. This is independent of you being an owner or not.
If the house was deeded (in part) to you, you are likely to get named in a foreclosure suit even if you are not obligated to the loan. The bank is obliged to let you know you're ownership interest is in jeopardy.
If the house was deeded (in part) to you, you are likely to get named in a foreclosure suit even if you are not obligated to the loan. The bank is obliged to let you know you're ownership interest is in jeopardy.
Ohiogal
Queen Bee
But the bank will most likely serve him at the property address unless he has told the bank HE has moved and is no longer there.