Q: I co-own a house In Duval county with an EX from years ago. I was barely 18 when the house was closed on in 2007, and
mortgage lenders were handing out loans to anyone who asked for one. I moved to Michigan in 2009. *I am on the deed*. The house is listed in both of our names and therefore is affecting my credit and debt to income ratio. This person made many severely late payments (90 days+) and was delinquent for a period of time between 2017-2019. Because of these delinquencies, I am now seen as higher risk in trying to purchase my own home with my husband. My credit has been seriously impacted through no fault of my own, and my mortgage lender is telling me that I should try to find some way to force him to refinance or force a sale in order to get this home off of my credit. He has been allowing his long-time girlfriend's brother and mother to live there for the past several years. What are my options? I have no resources to get embroiled in a legal battle as I have many financial responsibilities now and children to support. I really just want to be done with it and be worry free.
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A: It is important to know whether you are also on a deed. If yes, then you own the home. You can ask the co-owner to sell the property. In today's market, it will likely cover the mortgage, and you will have net proceeds to split. If s/he refuses, then you can force a sale but it will require hiring a lawyer because a Partition lawsuit will have to be filed. If you are the owner, you have rights. If you are merely on the mortgage and somehow ended up being financially responsibility on a property you do not own, then your only hope is for the co-owner to refinance in his/her name or sell.
Terrence H Thorgaard agrees with this answer
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