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    Bella1977's Avatar
    Bella1977 Posts: 3, Reputation: 1
    New Member
     
    #1

    Aug 3, 2010, 11:31 AM
    How to get out of a mortgage contract
    I have a joint mortgate with an ex partner. I have not lived in the property for 2 years and have not paid anything towards it either. I have had no contact with my ex partner either for around this length of time also. The last I was aware my ex was renting out the property. I want my name removed from the mortgage. How can I do this, or do you have any other suggestions that may help me to get out of this situation.

    Thanks
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #2

    Aug 3, 2010, 11:37 AM

    Hello B:

    The only way the mortgage company is going to let you off is when they're paid. That means the property has to be sold, refinanced, or paid off. I don't know how you'd accomplish any of those.

    excon
    Bella1977's Avatar
    Bella1977 Posts: 3, Reputation: 1
    New Member
     
    #3

    Aug 3, 2010, 11:39 AM

    Thanks excon

    Was hoping there was another solution. But guess not

    Bella1977
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Aug 3, 2010, 11:46 AM

    Excon is right, but the good news appears that the property is paying for itself and you have not had any expenses.

    There is one more option. You could go to court to force the partner to buy you out or allow you to sell your share.
    Bella1977's Avatar
    Bella1977 Posts: 3, Reputation: 1
    New Member
     
    #5

    Aug 3, 2010, 11:51 AM

    Hi Scottgem

    My ex did try to buy me out previoisly but could not afford it. I didn't think I could sell my half. Will have a look into this.

    Thanks for your help

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