My Co-borrower renting our condo without my approval. House going into foreclosure..
Question Details: My girlfriend and I have a house. We end up our relationship almost 2 years ago. Since then she will try to force me to sign a quick claim deed. I did not sign that paper. Now she stop making payments for over 4 months already. I try to make an assumption to transfer all to her name and save my credit but she refused. She is renting the property without my approval and told me that I lost any power over the house since I left but I am still the principal in the loan. I want to keep the property to save my credit. She would not do a short-sale or anything.
Real Estate Law Answers
I am a lawyer in CT and practice in this area of the law. your credit is likely hurt as a result of her failure to make the payments. If she does not want to keep the home, then you are going to have to continue to pay on the home to keep if from foreclosure. if she is going to let the bank take it you do not have a lot of choices. I suggest that you explain that both your credit will be hirt for 5 years if you let the bank take it and may be liable for a deficiency judgment where the bank can take money from your bank account or wages if the foreclosure sale does not payoff the entire amount owed. You should also go to a lawyer to try to work out your differences as the lawyer may be able to present other options once you give him more info about what your desires are.
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