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    chata1213's Avatar
    chata1213 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Oct 16, 2007, 07:52 PM
    Mortgage contract between two people
    I would to ask how do I get out of a mortgage contract on a house I purchased with someone else?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Oct 17, 2007, 06:07 AM
    Hello chata:

    Have them re-finance. Short of that, you're not going to get off.

    excon
    pacific nw's Avatar
    pacific nw Posts: 117, Reputation: 11
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    #3

    Oct 17, 2007, 10:45 PM
    I agree with excon.


    Refinance, sell the house or let it go to foreclosure. (Nasty bit.) Your Credit Report will be one big open sore for quite a while.


    Why did you jointly buy and why do you want to get out of it?

    You should check and see if it is actually a Mortgage or if it is a Deed of Trust.
    Is it held by a Bank or by a private individual?
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