Do I have to refinance the house

STBX wants us to refinance the house - we are 6 years to pay off and owe about $350,000.00. He wants to take out a new 30 year mortgage with some type of 5 year balloon while we try to sell the house -- cutting our payments in half. This is so that he can move out with the ow. He says he will pay 55% or the mortgage --- but he makes four times my salary. Do I have to do this -- isn't this something for us to work on with the attorneys. I'm afraid that if he moves out he will simply stop paying his portion and we will loose $350,000.00 in equity because I will go into bankruptcy trying to make the payments alone. Can I stop him.

by scared27years 283 Posts
Posted on 2/3/2009 8:15 PM

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Tags: forced into bankruptcy , cheating spouse , ongoing issue
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Answers for "Do I have to refinance the house" (2) (You must be logged in to answer)

He can't carry the mortgage and still buy me out -- he can carry it if he walks away with the house and I get nothing. But then it was my dream house not his. I have emailed my attorney but haven't heard back from her. I found this "proposal" on the sly because I looked on his desk. We don't have another four way until late this month so I don't know if he's "waiting" until then.

by scared27years 283 Posts
Posted on 2/5/2009 6:49 PM

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If I were you I wouldn't do anything until I talked to an atty. Why doesn't he refinance and buy you out of the house. If your name is on the mortgage you would have to sign any paperwork to refinance.

by trisha9054 4967 Posts
Posted on 2/3/2009 9:17 PM

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