Just wondering, my son and ex-partner bought a house together - they only lived in it for 4 months before the ex de facto walked out.
When they bought the house the ex-partner had no finances to put toward the property - the mortgage is in both names - obviously, my son wants to keep the house ( and now has been in this house for 14 months total on his own supporting his 3-year-old son).
My question is, if my son can change to mortgage papers into his name only and be able to keep the house, does the ex-partner have any rights to the house, and can my son ask or make the ex partner pay for half the mortgage payments that she has not contributed to since been gone?
Also, my husband and I are guarantors for my son's house - the other question is they borrowed $ 407,000 and we are guarantor for $ 111,000
My husband and I have talked to a broker ( Friend ) to see how much our son can borrow on his own and he will be able to borrow $ 382,000 so for our son to refinance and change into his name only question is because of the difference on original borrowing mortgage of $ 407,000 and the $ 382,000 he can borrow on his own if my husband and myself are able to up the guarantor amount by the difference for our son to be able to keep his home.
When they bought the house the ex-partner had no finances to put toward the property - the mortgage is in both names - obviously, my son wants to keep the house ( and now has been in this house for 14 months total on his own supporting his 3-year-old son).
My question is, if my son can change to mortgage papers into his name only and be able to keep the house, does the ex-partner have any rights to the house, and can my son ask or make the ex partner pay for half the mortgage payments that she has not contributed to since been gone?
Also, my husband and I are guarantors for my son's house - the other question is they borrowed $ 407,000 and we are guarantor for $ 111,000
My husband and I have talked to a broker ( Friend ) to see how much our son can borrow on his own and he will be able to borrow $ 382,000 so for our son to refinance and change into his name only question is because of the difference on original borrowing mortgage of $ 407,000 and the $ 382,000 he can borrow on his own if my husband and myself are able to up the guarantor amount by the difference for our son to be able to keep his home.