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georgecarla123 · Mar 18, 2007, 03:51 AM

Hi, wonder if you could give me some advice!
My ex boyfriend and I bought a house together 2 years ago, but broke up a month ago. He really wants to sell... I don't. My father put down 20% of the price of the house as a deposit, my ex put down nothing but we share the mortgage equally.

I am now trying to kick my ex out of the house so that I can stay there, but I can't afford to buy him out.
My options are -

I could take over his mortgage payments temporarily to free him up some money so that he can rent..

We could both rent the house out jointly so that we'll still have money invested in it.

Or I could get a lodger.

Have made so much money on this house already that it would be stupid to sell. Any suggestions as to what I should do??

my2229 · Mar 18, 2007, 04:21 AM

Have you looked at refinancing the house so you can afford to but him out?

excon · Mar 18, 2007, 04:43 AM

Hello georgia:

My is right. If you don't get him out of your life now, he's going to be a thorn in your side. If you refinance, with the equity you're so happy about, you could lower your payments so you can afford the house on your own.

Renter?? Right!! That'll never work. Ok, I guess it could work 1 time out of a 100.

excon

georgecarla123 · Mar 18, 2007, 06:02 AM

Have looked at refinancing... and I can't really afford it. Am paying the maximum I can afford already... and that is split between the two of us!

I still want to keep the house.. and I guess part of me hopes for a reconcilliation so I don't want to do anything I might regret!

May look at getting a lodger as don't really like living on my own anyway!

Thanks for the advice!

tinsign · Mar 18, 2007, 06:14 AM

If you can't buy his share out then yes the house normally gets sold and the court judge will decide how much he gets from it.

Fr_Chuck · Mar 18, 2007, 06:31 AM

Actually you can't really kick him out of a house he owns 1/2 of, it is as much his house as your house, and if you keep paying the mortgage he will always own 1/2 of it.

You either need to buy him out, or sell the house.

excon · Mar 18, 2007, 06:35 AM

Hello again, georgia:

Tinsign is right. You say the house is worth a bunch? Half of that equity (minus the cash daddy put up) is his. If you throw him out, he'll sue you for it, and rightfully so. Plus, he's not going to continue to make the mortgage payments.

If refinancing is out, you're going to have to sell.

excon

PS> I strongly suggest that you NOT use the house as a way to leverage your personal relationship. THAT will NEVER work. I cannot see you being a co-landlord with your ex.

Cvillecpm · Mar 18, 2007, 11:22 AM

You and father (assuming he has good credit) should re-finance the house and buy BF out. BF only gets half of equity LESS $20,000 which your dad paid on the purchase.

Make sure you put all utilities in your name and take BF off insurance, etc.