Splitting up, 1 child, mortgage and dont want to sell house??

Question

Ive been with my partner for 5 years and have a 4year old he now wants to split up no reasons given, but we have a joint mortgage and i dont want to sell is there any help out there?

I do work and earn a decent wage but its a big mortgage and not much equity

Answer 1

In most cases you will need to buy the other out.  Unless he is willing to sign a quit-claim deed or something.  Then you will need to find someone who can move in and pay rent.  Otherwise you will need additional income to support yourself.  

I would consider legal counsel on how to get his name off the house.  You may be able to refinance and extend the time and lower the payment as well.  The only way to get his name off the mortgage is to get a new loan.

Answer 2

Contact your mortgage holder and see if they will allow you to take the entire mortgage based on your ex giving a "Quit Claim Deed".  Contact several Mortgage Brokers to see if they have any new or refinance plans available for some one with your income and/or single parent status.

Answer 3

i can tell you from my parents divorce, if you want the house, do not leave it! it will be considered abandonment. also, if he lets you keep it, because your mortgage is joint, you will have to buy him out of it. my mom had to refinance and pay my dad off (this was years ago though when rates were much better). you will have to get a quick claim deed as well and he will have to sign off on the house so he's not responsible for it.

once the house is yours though, he does not have any responsibility to pay, it will be all yours so if you cannot afford it, it's best to sell.

best wishes

Answer 4

I think there is a way for you to be forced to either pay your partner off, or have to sell, to give them half.

IF your not wanting to sell, you'll more than likely have to fight this big time.

In the mean time, couldn't you get roommates, who could be paying rent, and use part of it to go to the morgage?  

If your partner wants out  for no reason, then let him/her pay for all the legal fees to fight the fight!  

Answer 5

Is there anyone who you can trust as a roommate?

Answer 6

A friend went through this a couple years ago...his wife cheated on him and wanted a divorce.  Their house was mortgaged, and he had to have it remortgaged to get her name off the house.  He also had to pay her half of what it was worth, even though she cheated and left the marriage.  

I'd get his name off the mortgage as soon as possible, to ensure that he doesn't remortgage it behind your back.  I'd also check into getting a roommate to help share the bills.  Make sure they sign an agreement upfront.  It should help you out and ensure you keep your home.

Another friend kicked her hubby out after months of physical abuse.  She also remortgaged to get his name off and she and I halfed all the bills and groceries.  It really worked out great for both of us!  (He didn't force her to pay him half of what the house was worth...he was nice, for once!)  She not only was able to get his name off the mortgage, but was able to use the extra money in doing so to pay off several of her credit cards.  It was a win win situation!

God's blessings on you and yours...Always!!