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What are the options for an unmarried couple who have split up and have a shared mortgage?
Wiki User
∙ 15y ago
Each person who signed the mortgage is responsible for it. Generally, the only way to remove your name from the mortgage is to pay the mortgage in full. Perhaps one co-owner could arrange to buy the other's interest and refinance the property with a new mortgage. If a buyout won't work then the property would need to be sold and the mortgage paid off. Until a decision is made the mortgage must be paid. You need to seek the advice of a real estate attorney who could explain your options and negotiate with your bank on your behalf, if necessary.
Wiki User
∙ 15y ago
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