Co-Signer Help

[ginja]

Alabama

I own joint property with an ex. I'm the primary borrower, but was forced out when the house became uninhabitable. I attempted to stay as long as possible after the breakup out of fear he could claim abandonment, but after a certain point you just can't do it anymore. Now, I need to him to either refinance and remove me or sell, but I fear he doesn't qualify to refinance... its been a year. He's been through 5 different jobs in the past year and I very highly doubt he can qualify to refinance. I offered selling in the beginning but of course was told not only no, but heck no. He did list the house, but cancelled showings and eventually took it off the market. He attempted to refinance in the beginning but backed out. I did look into accommodation mortgage to remove my name without him refinancing, but it wasn't an option with my loan. I'm currently at the point of considering hiring a lawyer but that's some serious money.

What are my options from here? Thanks in advance.

 

[adjusterjack]

Ex husband or ex boyfriend?

If ex husband what does your divorce decree say about the house?

When you say co-borrower do you mean that both your names are on the deed as owners as well as both your names on the loan?

 

[LostInCleveland]

She answered both those questions, adjusterjack. She is on title and is the primary borrower so both are on title, both listed on the loan. Is the ex living in the property? Why does he have the right to list but you don't? You say yourself that he won't qualify for a loan so no judge can order him to refinance and take you off the property because, even if a judge does, no bank is going to approve him because of what a judge said. You didn't really specify why it was uninhabitable. Does it need work or did you mean he became impossible to live with? Possibly, you could get an order forcing him to cooperate with a sale. I would recommend asking for any expenses you put into the sale being reimbursed. It's easy to sell a nice looking house than a fixer upper even after you reduce the price. Most buyers want a "move in" condition home and you need enough to pay off the mortgage.

 

[Zigner]

She answered both those questions, adjusterjack.

She never answered the question of ex-BF vs ex-Husband

 

[LdiJ]

She answered both those questions, adjusterjack. She is on title and is the primary borrower so both are on title, both listed on the loan. Is the ex living in the property? Why does he have the right to list but you don't? You say yourself that he won't qualify for a loan so no judge can order him to refinance and take you off the property because, even if a judge does, no bank is going to approve him because of what a judge said. You didn't really specify why it was uninhabitable. Does it need work or did you mean he became impossible to live with? Possibly, you could get an order forcing him to cooperate with a sale. I would recommend asking for any expenses you put into the sale being reimbursed. It's easy to sell a nice looking house than a fixer upper even after you reduce the price. Most buyers want a "move in" condition home and you need enough to pay off the mortgage.

She didn't say whether it was an ex boyfriend or an ex husband and if ex husband, what does the divorce decree state? The answer to those questions are critical. The remedies available to the OP are very different depending on those answers.

 

[ginja]

Sorry for any confusion. He's an ex boyfriend.

And as far and uninhabitable.. I have a full time job I plan to keep and he was having a house full of drunk friends and random party girls till 4-5am drinking, playing loud music, smoking weed (the guests, not him). I put up with as much as I could and went to work on as little sleep as possible for as long as I could.

Yes, you guys are right and I appreciate the input. My best option is forcing him to sell because he can't possible qualify for the loan himself. He is currently occupying the house with his fiancé. Unless they get married towards the end of this year as planned then refinance jointly, assuming she's got the credit to qualify. But I'm not holding my breath.

 

[LdiJ]

Sorry for any confusion. He's an ex boyfriend.

And as far and uninhabitable.. I have a full time job I plan to keep and he was having a house full of drunk friends and random party girls till 4-5am drinking, playing loud music, smoking weed (the guests, not him). I put up with as much as I could and went to work on as little sleep as possible for as long as I could.

Yes, you guys are right and I appreciate the input. My best option is forcing him to sell because he can't possible qualify for the loan himself. He is currently occupying the house with his fiancé. Unless they get married towards the end of this year as planned then refinance jointly, assuming she's got the credit to qualify. But I'm not holding my breath.

Since he is your ex boyfriend unfortunately your only option is a partition suit. Also, unfortunately those kinds of suits are expensive and result in the home being sold at auction for less than fair market value.

However, you could file the suit and hope that it will scare him into trying to find someone to finance the house with him to make the case go away, or get him to agree to fully cooperate with a sale in order to get out from under the suit.