Do i have to pay my mortgage if i dont want the house any more?

Catina
I have a restraining order against my husband, he has never paid the mortgage, and I want to just get out. In 2 months I will have an apartment-do I have to pay the mortgage in the mean time? His name is on the mortgage as a cosigner, I am the primary name on it. I don't care if it goes into foreclosure. He has equity in the home because when he bought the house he put a large settlement into it (house was refinanced into my name during the marrage) I could really use the couple months worth of payments to get myself on my feet.

Corinne
Before you ruin your credit, perhaps you should speak with a real estate agent to sell the home. Another option is to call the holder of the mortgage (the bank) and explain your situation. They may be willing to help you work with a realtor so they aren't stuck with a foreclosed home.

Jerrod
you may not care if it goes into foreclosure but the person renting to you, a deadbeat who does not pay her bills, will.

Jenise
You can do what you want, stop making payments, if you don't mind your credit being wrecked. You're single and might need a credit card, although a debit card might be a possibility, and I believe you'd be able to get one even with poor credit. Of course to a lesser or greater degree your credit would be rurined. *Have you heard of the Universal Default Law? You could be asking for more problems than you bargain for under this new law. In a nutshell, if a customer is late paying another creditor (such as your bank) and your credit score drops --other credit card companies can automatically raise that customer's interest rate on existing and future balances. Interest rates can be as high as 35 percent; most are around 30 percent. It's in effect in NY -- may be in done in your state too. Again, search the internet to avoid this horror.Also the bank holding your mortgage can possibly attach your salary, money in the bank, future income tax returns, etc. Have you ever heard of a salary garnished? Employers do not like that, since they become involved - it might effect the security of your job.*Another thought to keep in mind is that in todays home market, which is losing value and prices are going down -- the banks do now want the houses back, so your penalty and attempts to collect would be very severe ones. Moving to an apartment would not stop the bank or the collectors from coming after you, as a matter of fact, they might show up at your apartment door. How would your new landlord like that one?Revenge isn't always sweet -- by not paying the mortgage and your husband as co-signer, yes, he would be targeted for payback, if they can find him. Certainly, his credit would be rurined too.My primary concern is what do you owe on the mortgage? Can you sell it for at least that amount? What about renting the house? That would bring in a nice amount of money monthly. If you read all the above and still don't know what to do, then I agree with one of the posters, get yourself a "For Sale By Owner" sign, I saw one yesterday at Home Depot. The first offer of the mortgage amount I'd take. My advice, which you asked for, would be to do it that way.

Boyd
If there is equity in the house, why dont you sell it, or get a cash settlement from him, for it. Why throw the money away. It could put you on your feet anyway.

Darline
If there's equity in the home you can re-finance again, get that extra money to get on your feet, put the house up for sale and make interest only payments.

Lean
Yes, your names on it and your responsible for it. Rent it out for the worth of the morgage or sell it. If you let it forclose you'll have a tough time getting a loan on anything else for the rest of your life.

Tanika
A forclosure will wreck your credit rating. You need to get him to sign off on the property and sell it.

Cecily
Heh, heh...if you have a stellar credit rating it'll be in the cellar. Then again...anyone can get anything today with bad credit. just means that you'll be paying loanshark rates on the vig.

Catherine
The civil thing is to ask him what he wants to do. To allow the house to go into foreclosure when it is his money is truly selfish and vengeful, and hon, just not plain nice. We all make enough enemies in our life without really trying. don't make one in a business deal of your ex or soon to be ex...everyone looses, including you.Your credit will be ruined, the bank sells the house as a panic sell, they get all the $$$ he gets none, and you are all in a mess. Nope, you may indeed wish for whatever reasons to really stick it to him, but resist. You'll be fine anyway.

Else
Legally yes you have to you should just try to sell it so your credit does not get ruined I know this would take longer than you would like but in the long run it will be better for you!

Janey
Well, of course, but it will ding your credit pretty bad. And the bank can come after you for the amount owed. I would suggest talking to the mortgage company and ask if you can do a deed inlieu of foreclosure. It will still ding your credit, but not as bad as a foreclosure.

Alphonso
Ask a judge and see what he says..

Angelena
Well if your wanting to move and your name is on the mortgage, why not get a fresh start by filing bankruptcy??? It doesn't matter if your going to not sell the home but your going to ruin your credit so that would be up to you. If you don't do the bankruptcy thing they can come after you with garnishments and taxes so I would really consider bankruptcy or selling the home. Also when you file for divorce you can get a temporary order in place for him to either continue the payments until divorce is final or the house sells, this way the houe could be sitting on the market until everything is final. But what ever you do if your on the note you need to do something to wipe the debt away because it will haunt you down the road promise.

Bridgett
This won't get you on your feet. It will ruin your credit. If your name is on the mortgage then yes you are responsible for the payment. If your husband agrees have him buy you out.

Amada
sell the house and keep the cash. if you let it go to foreclosure it will screw up your credit for 12 to 15 years. at some point when you get back on your feet you may want to buy a place and you wont be able to get a loan for a decent rate.

Bari
duh, yes. unless of course you don't care if your credit gets ruined and then by all means don't pay.

Agripina
A mortgage is a legal contract so yes, you have to pay it. Sucks to be grown up and have responsibilities, don't it?

Chase
If you have already found an apartment, why haven't you put in on the market? That's crazy. You may not be able to sell it without his OK... certainly you must have an attorney to discuss this with... If not and because you are stressed about money...CALL LEGAL AID and get legal advice... don't destroy your future because your present is so stressful... Take care of yourself and your future... Don't take your anger at him out on YOU...

Nadene
Sell the house and split any profits. Never go into foreclosure if you can prevent it. Since your name is on the mortgage, you will trash both your and his credit rating and the damage you can do to yourself is not worth the damage you will do to him.---That's assuming you are in the house and he is not in it.If he is still in the house, then let him pay the mortgage. If you are in the process of divorcing, talk to your lawyer about what you can do. Don't tell me you aren't divorcing him--anytime you take out a restraining order on a spouse, you'd better be actively working to legally leave the relationship.

Nichole
Well you don't have too, but get ready for credit problems. I mean some big credit problems. If you haven't paid the mortgage anyway, your already screwed...sorrry

Kasi
call you mortgage lender and see if you need him to sell the home...if the home is in your name only you just might be able to...forclosure is gonna trash your credit, tho so I'd be carefull on that...call him and tell him you will no longer pay the mortgage so you two either sell it and divide the procedes or it goes to forclosure...I guarentee that'll get him off his duff...and I'd continue to pay the mortgage until you move out at least...I was in a smiliar situation when I re-married however, there was a court order in place outlining my rights as far as selling the home when I decided to up toand for how much I decided, then I got extra in the split to offset all those years I paid on the mortgage alone (100 %credit for reducing the principle those all those years).Good Luck.

Erinn
Wait, so because things aren't working out in your favor... you want a get out of jail free card for your mortgage?! Give me a break, grow up just a tad and for once do the right thing. Try putting it up for sale and split half between the two of you... No matter what happened with the two of you, it was BOTH of your home, so therefore split it, debt or profit, 50/50.