How do you get out of a home loan if you bought it with someone else who won't sell?

If her name is on the deed, she has no options. When and if the guy decides to sell, he would need her to sign off the deed, and she would get part of the profits. Interesting how bad things can get, before the marriage ceremony even happens. Maybe this guy needed her good credit to make the purchase, hopefully he makes the payments and protects her interest.

I have been in the same situation but with an exboyfriend who had signed with an aunt. The bad news is that once you sign a bank loan, your name is there forever. There is no quit claim deed without the financial obligation. The only suggestion I can come up with at this moment, is if your friend's boyfriend refinances through another bank by himself or with someone else, this way the current loan is paid off and your best friend can be off the hook with a peaceful mind. Tell your friend not to let this case rest.

Being that I don't know the maturity of this mortgage, I can only suggest that if the home purchase was recent and if there is no way he can refinance the house soon, your friend might give this case a rest but not give up. Even if they don't live together in the house, tell her to be on the look out to make sure he's making timely payments on the loan.

Please make sure she does NOT sign any Quit Claim Deed until she is sure that her name is off of that loan. As long as her name is on deed, he can not sell or refinance or take out a second mortgage without her permission and signature. She needs a lawyer. Or she could just move in and force him out, if he is a safe guy. She should probably get a lawyer and force him to sell and split the proceeds. In the meantime, make sure the loan is NEVER 30 days late! It will ruin her credit and she will be screwed.

If she is attached to the mortgage and/or deed, she needs to get a lawyer, prove that she no longer resides in the home, and he will have to refinance to have her name removed from the mortgage, or just have the attorney draw up papers to take her off the deed, if that is all she is attached to. If she is on the mortgage, and he misses even one payment her credit will suffer, and legally he can't force her to be liable if she no longer lives there. The attorneys usually consult for free, she should start making calls today!! Hop it all works out!

She can have him refinance the property and buy her out of the loan, if he wants to stay with the property. That way she gets her part of the profit and she is off the deed and off the loan as well. Good Luck to your friend!

If he won't sell the property, then make him buy out your best friends half of the property for the current appraised value of the home. You might have to sue him to get it done.

you can file a petition for ANYTHING in court. just find the right court and "ask" the court to force him to sell OR buy you out within a set period of time.