Can you get out of your mortgage if your afraid to live in the home?

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Can you get out of your mortgage if your afraid to live in the home?

My house was broken into twice in 2 weeks. I live in the city of Flint,
MI and no officers came out either time. I owe less then 10,000 on the
home but with the cities water issues and declining state of my neighbor
hood, Im not sure if or what my house will sell for. I do not feel safe
living there and need to know what my options are.

Asked on October 30, 2016 under Real Estate Law, Michigan

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

No, you can't get out of the mortgage for this reason. The mortgage is a contract between you and the lender; you cannot get out of a contract due to issues having nothing to do with the other party--your concerns about safety are not the banks fault, are not due to anything the bank did, and do not affect the bank's right to have you pay your mortgage.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

No, you can't get out of the mortgage for this reason. The mortgage is a contract between you and the lender; you cannot get out of a contract due to issues having nothing to do with the other party--your concerns about safety are not the banks fault, are not due to anything the bank did, and do not affect the bank's right to have you pay your mortgage.


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