Getting off a mortgage

[Wispyspirit]

What is the name of your state? Minnesota

I had planned on getting married. I signed on to my fiance's morgage, as he wanted to refinance at a cheaper rate 18 months ago. However, there is no way that I can marry this man, as I feel it would be a disasterous marriage. I would like to cut my losses ASAP. I asked him if he would try to put the mortgage in his name only so I can move on, and he refuses. Am a stuck on this mortgage for the next 30 years because he refuses to let me off, or do I have some legal way to get my name off of this mortgage so that I can buy a property of my own in the future? He claims he cannot pay the mortgage on his own and I am responsible. When he refinanced, he refinanced for a higher mortgage and bought a car and invested in the stock market. I have no ownership to the car or stocks. Is this my problem if he can't afford the mortgage now? Regardless, I plan on moving out whether he can afford it or not. He can just get a roomate. How to I get off of this mortgage?

 

[HomeGuru]

What is the name of your state? Minnesota

I had planned on getting married. I signed on to my fiance's morgage, as he wanted to refinance at a cheaper rate 18 months ago. However, there is no way that I can marry this man, as I feel it would be a disasterous marriage. I would like to cut my losses ASAP. I asked him if he would try to put the mortgage in his name only so I can move on, and he refuses. Am a stuck on this mortgage for the next 30 years because he refuses to let me off, or do I have some legal way to get my name off of this mortgage so that I can buy a property of my own in the future?

**A: sue for partition of sale. You can use the money that you are saving since you will not need to hire a divorce attorney, to hire a real estate attorney.
************
He claims he cannot pay the mortgage on his own and I am responsible.

**A: legally you are liable for the mortgage so tell him to sell the property then.
************

When he refinanced, he refinanced for a higher mortgage and bought a car and invested in the stock market. I have no ownership to the car or stocks.

**A: no wonder you are leaving him.
**********

Is this my problem if he can't afford the mortgage now?

**A: yes it is since you signed the mortgage papers.
*************



Regardless, I plan on moving out whether he can afford it or not. He can just get a roomate. How to I get off of this mortgage?

**A: good luck to you.

 

[JETX]

The only way that you can be released from the mortgage obligation is to have him sell the property, refinance it, or to get the mortgage company to release you.

Simply, you signed into a contract and cannot be released without permission of all the parties. The mortgage company very probably considered your financial ability when considering the loan approval, and depending on the circumstances, it is possible that they would have rejected the loan if purely based on his income or history. Therefore, your 'backing' was a part of the lenders decision making.... and would require a complete release for your obligation to be waived.

Your only other option would be an expensive and time consuming (possibly) trial to force the parties to waive your responsibility.