Need to know my options

[Julie17]

What is the name of your state (only U.S. law)? Wisconsin
Here is my problem. I recently bought a house with my fiancee. Both our names are on the mortgage, and neither one of us would have been able to secure the loan without the other. His parents gave us the down payment, (I never agreed to pay this back and never signed anything to that effect). I found out that my fiancee is an alcoholic and he is in the denial phase. I can no longer marry this man, and can no longer live with him. He refuses to sell the house, and refuses to try to refinance. I think he believes if he can keep me in the house we will still be together. What can I do to get out of this situation? Thanks!

 

[divgradcurl]

What is the name of your state (only U.S. law)? Wisconsin
Here is my problem. I recently bought a house with my fiancee. Both our names are on the mortgage, and neither one of us would have been able to secure the loan without the other. His parents gave us the down payment, (I never agreed to pay this back and never signed anything to that effect). I found out that my fiancee is an alcoholic and he is in the denial phase. I can no longer marry this man, and can no longer live with him. He refuses to sell the house, and refuses to try to refinance. I think he believes if he can keep me in the house we will still be together. What can I do to get out of this situation? Thanks!

Two things. First, as far as getting "out of the situation," it's going to be tough. If neither one of you can obtain a mortgage on your own, then one person buying the other out and refinancing doesn't appear to be an option. That means you will need to agree to sell the property. If he won't agree, then you will need to get the courts involved, which will be time-consuming and expensive. Or, you could take the potential hit on your credit and just walk away, and let the chips fall where they may.

Second, it doesn't matter that you didn't sign anything with respect to the down payment. You weren't married, so absent a written agreement to the contrary, it is going to be seen by the courts as a gift to the son, not to you, and if the house sells, his portion of the proceeds will be larger than yours by the amount of the "gift." Which may leave you with nothing -- but at least your name will be cleared.