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Joint mortgage and want to sell but friend doesn't want too!!

Last post Tue, May 10 2011, 10:42 PM by buster74. 2 replies.
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  •  Tue, May 10 2011, 10:42 PM

    Re: Joint mortgage and want to sell but friend doesn't want too!!

    ok thanks I thought that would be the case
    • Post Points: 5
  •  Tue, May 10 2011, 10:32 PM

    Re: Joint mortgage and want to sell but friend doesn't want too!!

    Not alot you can do.

    Joint mortgage, joint responsibility, joint legal responsibility, joint responsibility on the decisions made regarding the house.

    What ever is decided about the future of the house it has to be a joint decision unless you can get someone esle to buy outyour half of the mortgage but even then your (ex) friend would have to agree to the person joining them on the mortgage.

    • Post Points: 20
  •  Tue, May 10 2011, 9:17 PM

    Joint mortgage and want to sell but friend doesn't want too!!

    Hi I have a joint mortgage with a friend and have had for the past 7 years. Recently the friendship has deteriorated and after trying to sell the house without any joy for the past year we decided to rent and both move out.

    Now the second month has passed and the tenants have missed there monthly rent payment and I can now see issues arising with my past friend where I would be willing to cut my loses and sell, but wouldn't just want to hand the house over as there is a bit of equity in the property and really am reluctant to do him any favours.

    Now I know that seems harsh maybe but if he wasn't willing to sell what could I do? I wouldn't want to move back in and life as it was previously so is there anything I could do to make him sell the house and without it costing me a fortune in court fees??!!

    I would appreciated any advice.

    Thanks

    • Post Points: 20