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My ex and I purchased a house together 5 years ago. Both our names are on the deed, but only his name is on the mortgage. We split up 3 years ago and I moved out. He continues to live in the home and will not pay me for my half of the equity. Am I able to use the home as collateral for any sort of loan?

jameshogg · Posted: Wed Jun 15, 2011 9:45 pm Post subject:

Hi candygirl,

As there is already a loan on the property, unless you have equity in it, you won't be able to get a loan. You should contact the local lenders and apply for a loan. He will go through your situation and let you know whether or not you can get a loan.

Thanks

gmakerley · Posted: Thu Jun 16, 2011 11:53 am Post subject:

Candy, you didn't note whether your "ex" is a former husband or simply a former non-marital partner. That could well make a difference, depending on where you're located.

If you two were married, any divorce settlement would have (ordinarily) spelled out the details of how finances and property would be allocated, particularly when it comes to real estate and existing equity in the property. When unmarried couples split up, that's a problem, because there's ordinarily going to be no law to protect either of the parties for the financial contribution to the relationship.

As noted, you'll want to consult with an attorney who can help you sort out what's happened already and what can happen now and later.

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Name on deed, not on mortgage

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