I am the secondary person on a title/mortgage for a house and do not live in it. the primary person does live
in the house. What do we do if I no longer want anything to do with the house and he doesn't want to sell? This is a huge thorn in my side and I want to know what options I have. Also, we have an equity line of credit that I am the primary on and he is the secondary. Still I want nothing to do with this and just want out from under it. What can we do? If I filed bankruptcy, what would happen to my responsibility and what would happen to him?
Jo you are stuck unless you can refi the loan(s) where the other person is the only one on the mortgage for the subject property.
As to filling for bankruptcy....You need to speak to an attorney who specializes in that field for some of the old laws have changed in this area over the past two years. But due to the fact the loans are secured by the property you will have a hard time on using this method to have your name removed.
One question you may want to discover is how you took title and if this is an avenue you and your attorney can take in making a smart move on your part. Just a thought, not sure if it has any teeth.
This would be best explained to you in person or over the phone, as it requires quite a few steps. Please call me at 530-701-6674 for ideas. Thank you.
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Fair Housing and Equal Opportunity