Can my ex partner stop me from selling my house?

Can my ex partner stop me from selling my house?

If your ex partner refuses to sign to sell the house, unfortunately your only option is to seek legal advice and settle the matter in court. Separation is never easy and sadly, there is never the perfect course of action to manage a break up.

Do I have to pay the mortgage if we split up?

You are both jointly and separately responsible for the full amount of the loan. If the loan is not paid, the bank may take possession and sell the home to pay it. Most commonly, if you remain living in the home, you should pay the mortgage and expenses for the home, pending sale.

What happens if you walk away from a mortgage?

First of all, walking away from a mortgage will drop your credit rating by 150 points and it will take several years to recover. Such a drop has a huge impact if your credit is good, but a much smaller impact if your credit is already bad.

When should you walk away from home?

Usually those times to walk away and get the earnest money back apply during the contingency periods written into the contract. A buyer can walk away though at any time from the contract up until the actual signing of all documents at closing.

Do I still owe money if my house is foreclosed?

A theoretical shortfall is not a real shortfall. You don’t have to sell. If you sell with a shortfall, or your bank forecloses, you still owe your mortgage lender any deficiency between the money realized from the sale and the balance owing on your mortgage.