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    hiandbye2562's Avatar
    hiandbye2562 Posts: 2, Reputation: 1
    New Member
     
    #1

    Apr 16, 2007, 08:14 PM
    I cant afford it,what can I do.
    Recently I was engaged but the guy left me cold and dry .I am now stuck with a house payment that I can not afford ,I can only afford half of it and the rest goes to my bills.I have lived in this house for about 5 months now and April was the first month that it has not been paid yet.I don't want to loose the house ,but I can't afford it either.I have asked him to help me pay the house until it sells but he won't help at all.I have no family or friends that can help me because they are struggling making there bills as well.My name and his name is on the loan ,and its not fair that I have to have full responsibility for it.Should I keep paying only half of what I can give? or should I just not pay at all and call my lender? I know that my credit will srew up ,but I just want to get out of this stiuation and hope that it bites him in the as well.I have learned not to trust anyone when it comes down to sharing a contract with someone even if you were with them for 6 years.I just hope there is something that I can do to get out of this situation.. any advice can help...

    Thank you :confused:
    alkalineangel's Avatar
    alkalineangel Posts: 2,391, Reputation: 323
    Ultra Member
     
    #2

    Apr 16, 2007, 08:38 PM
    Is his name on the loan? If it is, he is obligated..
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
    Expert
     
    #3

    Apr 17, 2007, 05:51 AM
    Ok, he is obligated but what if he just don't want to pay, not much you can do, his credit will be ruined along with yours.

    You need to call the lender NOW, and see if there is anything they will work out with you, perhaps interest only for a few months.

    You need to put the home on the marke and sell it as cheap as you can to get out of this.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Apr 17, 2007, 06:00 AM
    His name is on the loan, but is it also on the deed? Most probably it is, if he's on the loan. That means he has to be a part of any sale. Did he contribute to the down payment? How much?

    I agree with Chuck's advice. You need to get to a realtor immediately and list the house. You then need to go to your mortgage lender and explain the circumstances and ask what they can do for you while you try to sell. Its possible they will accept interest only payments until its sold.

    I'm not sure I understand why he won't pay. If the house is foreclosed on, they will go after him as much as you. His credit will be ruined as much as yours.
    arlcruise's Avatar
    arlcruise Posts: 9, Reputation: 1
    New Member
     
    #5

    Apr 24, 2007, 01:42 AM
    Have you considered getting a roommate? Or leaving the property and renting it out entirely. You do not want to get your credit damaged.

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