Here’s the question….

“My ex-boyfriend and I bought a home together and now he has skipped at least 2 or 3 payments. He will be moving in a few days, it was to my understanding that since he was the “Borrower” on our mortgage, and I the “Co-Borrower”, that he would no longer have his name on the property being that he has defaulted on payments. My ex has told me when I get someone to rent a room that he wants his name to go on the money orders for the payment on the house. I just need to know my rights on this matter. My mortgage company is US Bank and they are impossible to get in touch with.

Can you please tell me what I should do?

Thanks,
Kathy”

Okay Kathy first realize it doesn’t matter who was classified as the “Borrower” or “Co-Borrower” in the eyes of the lender or the law. Both parties are equally responsible for the mortgage and the property and neither party is removed from the legal obligation to pay the mortgage or as titled owners of the home until the mortgage is satisfied(released by the bank) or the property changes hands legally.

Said another way…you are both on the mortgage and on the title of the home and will remain that way until the home is sold and the mortgage paid in full.

Now if your ex is flaking out on you…not paying his part…leaving the mortgage to you to pay however you see fit…then get him off the home via a “Quit Claim Deed”. Once he signs that, he is legally of the title to the home, but he is still obligated on the mortgage. He’ll just have to trust you to pay the mortgage.

By the way, having your ex’s name on the payment means nothing. The bank doesn’t care who makes the payment…just that it is made.

You can pay the mortgage as the “Co-borrower” indefinitely without putting his name on any payments if you want…it’s your mortgage as much as it is his.

Eventually you’ll refinance or sell paying off the mortgage ….and either of those activities will extinguish the old mortgage with your ex’s name on it.

Good Luck!

If you have any questions or comments please call or post!