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What are my options on this situation?

Written By: admin on July 8, 2009 One Comment

Me and my now ex girlfriend bought a house for 105,000 with an FHA loan. we have had it for nearly one year. things between me and her have gone sour and she wants to just get out from under the loan. I know the only way for her to do that is for me to refinance but i dont have any money at all the do that. And if she wants money i dont have that either. What are my other options? I also know i could just foreclose but will my lender be able to try and work something out for me. I can afford the payments but i dont have any extra cash to settle another loan.

HELP!
and to clear things up a bit….i can pay for the house myself….but she is just worried about being on the loan and what she is entitled to. If she is entitled to anymore than a grand i cant pay her and if i leave the loan the way it is she will still be entitled to any money i make on selling the house latter on


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One Response to “What are my options on this situation?”

  1. haygirlc on: 8 July 2009 at 4:09 pm

    You are both equally liable if you are on title. Best to sell the home or work out a sale/deed change to place it in your name. A title company can do this for you.

    It will ruin both your credit if you don’t keep up the payments. It is in both your best interest to contribute to the mortgage as agreed until the house is sold. If you are both on title it will take both signatures to sell the home (there are few exceptions), so best to keep it business and get a real estate agent that will work with you both individually and separately to act as the buffer you need.

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