It's what I wanted, right???
February 21, 2012 11:53 AM Subscribe
I think my ex-partner just walked out on our mortgage. Please help me navigate this new world!
I searched through old questions but I didn't find anything that quite matched up to my situation. Most of those were written from the viewpoint of the person wanting to walk away.
I currently own a home with my ex, we're both on the mortgage. After our breakup, we put the house on the market and attempted to sell it. The market being how it was, it didn't sell. Later that year, I attempted to "buy" the home on my own. I was approved and we made it all the way to the appraisal process where everything fell apart. The house didn't appraise for enough so I bagged the idea for the time. Things went on business as usual, we both lived in the house and just left each other alone.
We have been splitting the mortgage evenly, no problems there. My ex approached me a few months ago regarding putting the house on the market again. We exchanged a few messages about it, but nothing ever came of it.
Then lo and behold I came home from work on Friday to discover that my ex had moved out. As of right now, I haven't received any communication from my ex regarding their plans or intentions. I haven't attempted to contact my ex at this time.
Now, I still want the house. I have been in contact with my mortgage broker and he assures me that I am qualified for the HARP program. My ultimate goal will be to refinance and get my ex off the deed/mortgage. I don't know if it matters, but we are not/were never married.
Therefore my questions are these:
1. If my ex has decided to walk away completely, what are the consequences? Is there an amount of time after which my ex will have "forfeited" any rights to the home? My ex made it very clear from the very beginning that they didn't want the home. Is there any way to avoid "buying them out"?
2. Any other details you think I should know? I want this house, but I don't want to get wiped out financially in the process. I am prepared to cover the mortgage on my own for a few months if I have to, but that couldn't go on for long. I do have a current partner that helps substantially with all household expenses. My hope is that the refi will help by dropping the payment several hundred dollars.
*Disclaimer* The ex can be very difficult to work with. Even when we were trying to sell our house to strangers, they made it problematic by failing to communicate in a timely manner. Also, they failed to show a basic understanding of the real estate market and how the process works. When I was attempting to buy the house myself, they drug out the process painfully by making silly demands. (demanding to be reimbursed for improvements we made to the home together, for example) They would only back down when confronted by our Realtor who was helping us through the process as a favor! I know I'll have to contact my ex eventually, but I need to feel better prepared first.
I know you are not my lawyer, talk to me like you're my friend!
I'm in Utah/Salt Lake County.
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