I have owned my house for the last 20 years. Two years ago I let my boyfriend get on the mortgage
, he put $50,000 down and we refinanced the mortgage. Since that time, I realize I made a big mistake in letting him on the mortgage. Is there anyway I could buy him out without it costing me $50,000? The house is currently worth about $240,000 and if we sold it, we would only walk away with approximately 30,000 each and I don't want to do that. I want to keep the house if I possibly can.
Can he force me to sell? Is it true since I have 18 years of equity in the house that he would only get two years of the equity.
I pay all the bills, his name is ***** ***** any utilities
. He pays me $800 a month with everything included.
I live in Bensalem, PA
Also, just because he was put on the mortgage, does that mean he is on the deed, too.