Real Answers for Life’s Money Challenges
In 2017, my boyfriend and I bought a house together.
Now weve decided to break up.
I put up more actual cash, but he put up more time and physical labor.
Right now, were in a good place, and the breakup is mutual.
But obviously, that might not last forever.
Im in way over my head here.
Im not even sure what I should be asking.
What you have is a pretty common problem.
COVID-19 certainly complicates things.
If you have a mortgage, that person will have to refinance in their name.
Or it’s possible for you to both sell it to a third party.
I dont think Im telling you anything that you dont already know.
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
All of us are mostly trapped at home.
You probably feel especially stuck being in the house with your ex 24/7.
You want to make an exit plan.
But everyones plans are stuck in limbo right now.
You cant even make lunch plans with a friend, let alone plan for new life chapters.
It isnt surprising that you dont know what questions to ask right now.
You cant ask for directions when you no longer know where youre going.
Or do you want to stay put for now?
What would your goals be if you werent tied to this house?
Maybe that means selling sooner for a lower price.
Or working together to recoup your investment and keeping both of your names on the deed for now.
Whats good here is that it sounds like youre both acting reasonably.
1 goal is to keep it amicable.
That could be a challenge if youre still social distancing from the same home in a couple months.
Focus on what you plan to do post-pandemic, even though the timing is out of your hands.
You will get out of this situation.
We just dont know when.
Robin Hartill is a certified financial planner and the voice behind Dear Penny.
Send your tricky money questions to[email protected].
It sounds appealing right?
Check it out here!
