Legal Question in Credit and Debt Law in New York

stuck with mortgage default??

My boyfriend and I bought a home together 1 year ago. 4 months after closing, we transferred the deed into my name alone after he fell off the wagon to try to protect me should he run up huge credit bills, etc in the future. He is in recovery, doing well employed and financially quite stable. The mortgage is still in both of our names. He left me 4 months after we changed the deed for another woman. I found an email where he states that he ''put the house in my name after his relapse at my request and will not pay the mortgage for long, if at all, once he leaves the relationship.'' He prepaid his share for 4 months but won't help now that that sum has run out. Now I have to try to carry the mortgage alone. I'm trying to sell since I can't afford this. He did sign a legal promisorry note stating that he would pay me owed money once the house sold. It also stated that this amount would acrue an extra monthly sum, with interest presuming he might do this. It doesn't help me now though. I may have to foreclose as I am running out of savings to keep things afloat. Is this default or fraud on his part? What can I do, if anything?


Asked on 8/27/07, 8:48 am

1 Answer from Attorneys

Robert R. Groezinger GroezingerLaw P.C.

Re: stuck with mortgage default??

Yes and no.

This is more complicated than a bulletin board response will permit because it is very fact dependent.

Please feel free to contact me at 845.878.2163 for a free telephone consult.

Good Luck

RRG

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Answered on 8/27/07, 1:40 pm


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