Legal Question in Real Estate Law in Missouri

Hello,

This is a very complex situation and I don't know what is left to do. Please do anything you can to help. So it beings!

I purchased a house at the age of 19 with a friend of mine as a co-borrwer (no, no one stopped us) in December 2007. We had verbally agreed to live in the house for 3-5 years and then sell it and split the profit if any. We financed $140,000. January 1st, 2009 I lost my well paying job and told my friend that we needed to sell the house because I did not have another job lined up that could help me afford the home. He said, "that's not my problem, I am not selling the house." I did everything I could to keep up with the payments, borrowing money, skipping payments of other bills, etc. I attempted many times to get a loan modification but kept on getting denied. Our payments were $1,235/ month (7.25% rate). Eventually have exhausting all of my options I decided to move out of the home without his knowledge in June 2009 (sounds terrible, but I had no other choice). After explaining to him that I would not be paying anymore he was more than upset. Like I said we started off as friends, so i did feel bad about what I had to do. He asked me to sign a quit claim deed so that when he sold the house he would not need my signature or approval. I agreed because the situation he was put in. He ended up very soon after I moved out getting approved for a loan modification. He was given a 2.00% interest rate, moved from a 30 to a 40 year loan, and $11,900 deferred principal, with a payment of $671 /month. He ended up getting two roommates for a couple years that were each paying $300/ month and splitting utilities. My co-borrower did not, however, make any extra payments towards principle to help for future re-fi or selling. He then met someone and got married in March 2014. He keeps telling me that he just can't refinance because he doesn't have enough equity in the house, although he now has two incomes. I have been dealing with this for 6 years now and I don't know what to do. I offered at one point to refi in my name and for his troubles offer him some money even with no equity in home and his response was yeah $60,000 (no idea how he came up with that number). Please help me I am at a loss. I am in a serious relationship, 28 years old, want to start a family, and buy my own home but this is a credit killer and don't know what to do. I appreciate any feedback that I can get.

I don't know if there is anything that can be done with these verbal agreements I got myself into.

Also, I don't want to use bankruptcy as an option because I don't want to hurt anymore than I already am.

Sincerely,

Karl F.

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