If two people own property together they are each entitled to 50% of the proceeds. The buyer would be obligated to pay each owner 50% unless there is some other written evidence or court order to the contrary. You should consult with an attorney ASAP who can review your situation and explain your options.
If you have proof positive that you paid half the mortgage (receipts, cancelled checks) you will have good grounds to fight the eviction.
The bank doesn't care whose name is on the deed, just whose name is on the mortgage. You can sign a quit claim deed so it is all the partner's. So you would be giving up deeded ownership and still be liable for the mortgage if your ex; who can't qualify for a mortgage ever defaults? Really? This doesn't sound like a good idea on so many levels.
Sexytime with banker.
You still own the house if you have a reverse mortgage, yes.
If you put gasoline in my ferrari would you own half of it? Unfortunately NO! One of the main reasons being how would you prove your paying towards the mortgage? and not just paying him rent?
Unless your partner adds your name to the title and then refinances, there is no way for you to get on the mortgage.
No rights.
no
If you have proof positive that you paid half the mortgage (receipts, cancelled checks) you will have good grounds to fight the eviction.
The bank doesn't care whose name is on the deed, just whose name is on the mortgage. You can sign a quit claim deed so it is all the partner's. So you would be giving up deeded ownership and still be liable for the mortgage if your ex; who can't qualify for a mortgage ever defaults? Really? This doesn't sound like a good idea on so many levels.
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
Sexytime with banker.
You still own the house if you have a reverse mortgage, yes.
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
If you put gasoline in my ferrari would you own half of it? Unfortunately NO! One of the main reasons being how would you prove your paying towards the mortgage? and not just paying him rent?
A good way to get a cheap home mortgage is by buying a home that is small. The larger the house, the more the mortgage will cost. The mortgage depends on the size of the house.
You'd have to get that information from the mortgagee.