North Carolina woman and ex stopped paying mortgage after split, facing foreclosure and debt.

From Yahoo Finance: 2025-07-01 14:37:00

Janelle from Raleigh, North Carolina, bought a house with her ex-fiance and is now facing foreclosure, $25,000 in debt, and $465,000 left on the mortgage. They are four months behind in payments and are considering a short sale. They need to catch up on payments, cut expenses, and possibly sell the house quickly.

Buying property with someone you’re not married to can be risky. Lenders assess credit scores of each buyer, affecting mortgage approval. Ownership structure, such as joint tenancy or tenancy in common, must be decided. Expenses like property taxes, insurance, and maintenance costs must be shared and agreed upon. A written agreement outlining rights and responsibilities is crucial. If you and your partner break up, without a legal agreement in place, you may have to settle the ownership structure on your own or through legal procedures. The court could make the decision for you if needed, so it’s important to communicate and come to a resolution to avoid any complications.

Having a legally binding agreement when entering a partnership can prevent issues like stopping mortgage payments if one person moves out. Communication is key even if the relationship sours, as you’ll need to figure out the next steps together to avoid getting stuck in a difficult situation. Join 200,000+ readers for more tips and advice from Moneywise.



Read more at Yahoo Finance: North Carolina woman tells Ramsey Show hosts she and her ex both stopped paying the mortgage after they split