Comments on: How do I get out of a mortgage that I share with two other people? http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/ New or Refinance Mortgage Information Thu, 15 Mar 2012 12:37:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Virgil http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3313 Virgil Mon, 26 Apr 2010 06:16:45 +0000 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3313 You say you have no written contract - do you mean with each other? If there is a mortgage on the property with all three names, that is a legally binding contract. Also, in some states and circumstances, an oral agreement, especially one that has been adhered to in good faith for a period of time, can be legally binding. Therefore, everyone who says contact a lawyer is on the right track. However, the name(s) on the mortgage are very important. If it's all three of you or a business owned by all three of you, you're stuck with each other, regardless of any agreement you may or may not have. You say you have no written contract – do you mean with each other? If there is a mortgage on the property with all three names, that is a legally binding contract. Also, in some states and circumstances, an oral agreement, especially one that has been adhered to in good faith for a period of time, can be legally binding. Therefore, everyone who says contact a lawyer is on the right track.

However, the name(s) on the mortgage are very important. If it’s all three of you or a business owned by all three of you, you’re stuck with each other, regardless of any agreement you may or may not have.

]]> By: senna4487 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3312 senna4487 Mon, 26 Apr 2010 00:07:02 +0000 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3312 you most likely have no legal remedy, but not to say that its impossible. As they say a check is considered a contract. If you and your friend who is not on the mortgage can demonstrate that you have paid as much of the mortgage as your friend, you may have a case. I'd suggest speaking with a lawyer and putting together a decent argument and convincing him to put the house on the market. taking him to court over something like this probably is not worth the hassle. you most likely have no legal remedy, but not to say that its impossible. As they say a check is considered a contract. If you and your friend who is not on the mortgage can demonstrate that you have paid as much of the mortgage as your friend, you may have a case.

I’d suggest speaking with a lawyer and putting together a decent argument and convincing him to put the house on the market. taking him to court over something like this probably is not worth the hassle.

]]> By: unca buddy http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3311 unca buddy Sat, 24 Apr 2010 14:38:36 +0000 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3311 talk to the third party about possible refinancing. they may or may not go for this. if they don't get a lawyer. talk to the third party about possible refinancing. they may or may not go for this. if they don’t get a lawyer.

]]> By: mikeyg http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3310 mikeyg Sat, 24 Apr 2010 01:00:12 +0000 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3310 Somebody's name is on the Title and Mortgage or Note. Whoever that person is has the legal right to do whatever they want with the property. Somebody’s name is on the Title and Mortgage or Note. Whoever that person is has the legal right to do whatever they want with the property.

]]> By: mama_sayed http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3309 mama_sayed Tue, 20 Apr 2010 18:38:46 +0000 http://www.mortgagefinderwebsite.com/renting-real-estate/how-do-i-get-out-of-a-mortgage-that-i-share-with-two-other-people/#comment-3309 Get a lawyer. If all three names are on the mortgage, have the 3rd person buy out your equity. Good luck with that. Get a lawyer. If all three names are on the mortgage, have the 3rd person buy out your equity. Good luck with that.

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