Q: I’m on the deed and loan as a co-signer on a house with my mom , she refuses to take me off or refinance ? Help
She does not work , refuses to work , won’t qualify for the home on her own , won’t sell, she’s renting the rooms to pay the house rent , I don’t even live in the home , I don’t know what to do to get out of this situation we are beyond speaking terms. It’s been 7-8 years , we had agreed I would sign for the home because I qualify and my family was homeless, to sell in a few years and they went back on there word.
A:
In California, being on both the deed and the loan of a house ties you legally and financially to the property. If your co-signer, in this case, your mother, refuses to refinance or sell the house, your options may seem limited, especially if she cannot qualify for a loan on her own due to lack of income. Your situation is further complicated by the fact that you are not living in the home and your relationship has deteriorated to the point where communication is no longer effective.
One potential solution is to seek legal advice on possibly filing a suit for partition. This legal action can force the sale of the property if the court finds it to be the most equitable solution. A partition action is often used in situations where co-owners of a property cannot agree on the disposition of the property. The court can order the property to be sold and the proceeds divided among the owners in accordance with their ownership interests.
Given the complexity of your situation and the potential need for legal intervention, it would be wise to consult with an attorney who has experience in real estate law. They can provide you with detailed advice based on the specifics of your case and guide you through the legal process. It's also important to consider all financial implications, including how a forced sale might affect your credit and financial standing. Taking action sooner rather than later can help you begin to resolve this difficult situation and move forward.
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