Posted on: 08th Feb, 2010 08:11 am
Hello, me and "this guy" have been living together for the past 20+ years.
I am the secondary name under our loan. I have been paying the mortgage for the past 11~ years by myself. My son recently showed me undeniable evidence that 'this guy' has been cheating on me. We are not legally married but I want him out of the house and out of our lives since he contributes nothing towards the payments. Statements, pay stubs and tax records are available. What are the recommended procedures for moving forward with this?
Thank you...
I am the secondary name under our loan. I have been paying the mortgage for the past 11~ years by myself. My son recently showed me undeniable evidence that 'this guy' has been cheating on me. We are not legally married but I want him out of the house and out of our lives since he contributes nothing towards the payments. Statements, pay stubs and tax records are available. What are the recommended procedures for moving forward with this?
Thank you...
you will need to refinance and either pull yourself or him off the mortgage. you will need to execute a quit claim deed to remove him or yourself from title.
of course, you won't want to "fight" with this guy, but you'll need an awfully persuasive argument to get him out of your life, it appears. the 11 years of non-contribution don't necessarily provide you with much ammunition, as he can say you tolerated it for so long without acting.
i don't know that a lawyer would be much help, since there's no legal bond between you and "this guy." if he's not interested in the relationship (evidenced by his wandering eye and other parts), then maybe convincing him to vacate won't be so hard. and you'll need to work hard on getting him to sign a quit claim deed without compensation. that might necessitate taking him to court, though; so keep all your records handy in the event you go that route.
i don't know that a lawyer would be much help, since there's no legal bond between you and "this guy." if he's not interested in the relationship (evidenced by his wandering eye and other parts), then maybe convincing him to vacate won't be so hard. and you'll need to work hard on getting him to sign a quit claim deed without compensation. that might necessitate taking him to court, though; so keep all your records handy in the event you go that route.
Alright, so it seems refinancing without his name is the only way to go? I'm not sure how well that will pass since I've noticed payment history doesn't really matter when it comes to a refinance...
As for the quit claim deed, is that only in effect if we decide to sell the place?
Thanks guys.
As for the quit claim deed, is that only in effect if we decide to sell the place?
Thanks guys.
in order for you to refinance and eliminate him as a borrower, he's going to have to quit claim his interest in the property to you. if that takes place, then the quit claim is in effect - period.
i don't quite get your question about the quit claim being in effect only if you sell. rather than try to answer that, let me say this: when a quit claim deed is executed, it is valid at that time and forever until another change (if any) is made. the sale of the home, subsequent to the deed, would be from the party(ies) who own the home at the time of the sale. if that's you because he quit-claimed his interest to you, then it's you.
and please don't misunderstand primary and secondary names on a loan - it doesn't matter. every person who signs a note promising to repay a loan is 100% liable. it's not 50/50, it's not 100/0 or any other mathematical equation. each person is liable for the entire debt unless and until released from the obligation by the lender.
last...i don't know what you mean when you say payment history isn't relevant when doing a refinance. by that do you mean, they don't pay attention to who was making the payments? if that's what you mean, you are right, but it's not so much "not paying attention;" it's that they truly don't know. lenders do not keep track as to who makes payments - they simply record whatever payments come in and give credit on the loan.
i don't quite get your question about the quit claim being in effect only if you sell. rather than try to answer that, let me say this: when a quit claim deed is executed, it is valid at that time and forever until another change (if any) is made. the sale of the home, subsequent to the deed, would be from the party(ies) who own the home at the time of the sale. if that's you because he quit-claimed his interest to you, then it's you.
and please don't misunderstand primary and secondary names on a loan - it doesn't matter. every person who signs a note promising to repay a loan is 100% liable. it's not 50/50, it's not 100/0 or any other mathematical equation. each person is liable for the entire debt unless and until released from the obligation by the lender.
last...i don't know what you mean when you say payment history isn't relevant when doing a refinance. by that do you mean, they don't pay attention to who was making the payments? if that's what you mean, you are right, but it's not so much "not paying attention;" it's that they truly don't know. lenders do not keep track as to who makes payments - they simply record whatever payments come in and give credit on the loan.
Sorry for the late response, hectic weekend, tfaulhaber1 and gmakerley thank you two for your useful knowledge and information. I will visit if I have more questions in the future. Thanks again.
by all means, please feel free to return...if you have insight to help someone else, it's well worth the trip; and if you come upon other situations that you need assistance with, that's why most of us are here anyway...to help.