Stand-off
Posted by aak5454 on August 22, 2007 at 10:57:19:
In Reply to: Me on mortgage but two of us on title - one needs out, how?
Posted by Trappedinmyhome on August 21, 2007 at 13:35:33:
You must have your former partner sign the deed to transfer the title (i.e. sell the property). Who is or is not on the mortgage does not matter with respect to selling the property.
On the other hand, the bank does not matter who is on the title, they just want to get thier money.
You should explain to your partner the following two option if they continue to refuse to cooperate.
1) stop making payments, go into foreclosure and both will lose most or all of your equity.
2) you file a partitional lawsuit and after a lot of time and money, the court is likely to order the sale...of course, that is you can find a buyer or you are not completely under water
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