Expert: Dick Dennis - 12/3/2007

Question
Hi, me and my boyfriend have broken up and are wanting to sell the house. Both of our names are on the mortgage but we also have a loan tide in with the house, would this make it difficult to sell the house and move on. We also have 1 child and i am worried i will not find any where else to live once we have sold the house. Can you give me any advice.

Thank You.

Answer
I'm not exactly sure I understand what I can do for you, Nicola. Very simply, if you are breaking up, you simply find a very good real estate agent to help you sell the property. Both of you will have to sign the listing with the agent, plus any and all documents and papers necessary to pass the title to the buyer successfully.

If one of you refuses to sign any and ALL documents, plus you fail to make timely payments on the mortgage, then you may lose the house to foreclosure. Then your credit will be ruined and both of you will find it very difficult to buy a house in the near future. In the meantime, you may rent a house. But be aware that landlords may require that your credit report be submitted for review before they let you live in their house. I do wish you well.

Dick Dennis