Asked by Kelly Perkins, Denver, CO • Sun Jan 18, 2009
I own a home with my brother. We want to go our own ways however I dont think i can refinance alone because we both just lost our jobs and are on unemployment. My girlfriend is able to move in (she has a job, but bad credit - a recent foreclosure) ..so she wouldnt be able to get a mortgage. I do have funds to buy him out, however. What are our options? I mentioned a quit claim, but he wants off the loan if he is not living here due to financial responsiblity down the road if there would be a default ( just for his protection) The home probobly cant be sold due to market downturn, the home needs repairs and we would owe more than current value. HELP PLEASE!!! One of us needs to go!!
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