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home equity

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ronita Guest	Posted: Fri Nov 25, 2011 4:15 pm    Post subject: home equity Like 0 Dislike 0 I purhased a home with my ex boyfriend as a coborrower (I qualified for 89,000 of the 95,000) 3 yeas ago. He moved out and I have made all payments fo 2 years. If I sell do I have to split the equity with him? If so can I try to get money from him for his half of the mortgage? What should I do?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Sun Nov 27, 2011 7:20 pm    Post subject: Like 0 Dislike 0 Hi ronita, If your ex-boyfriend's name is still mentioned on the property deed, then you will have to share your sale profits with him. If he is a co-borrower of the loan, then you may ask him to pay his half of the mortgage but it will be his discretion whether or not he will pay his half of the mortgage. Thanks
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Sun Nov 27, 2011 11:23 pm    Post subject: Like 0 Dislike 0 Hello Ronita, Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the person will not be able to borrow additional money once the period has ended. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

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