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mortgage litigation Real Estate - Opting Out of a Join Mortgage (0 viewing) 
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TOPIC: mortgage litigation Real Estate - Opting Out of a Join Mortgage
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Helen (Visitor)
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mortgage litigation Real Estate - Opting Out of a Join Mortgage  
I plan to purchase a house with 2 other individuals.  The 3 of us will pool money together to make the down payment and each mortgage payment. I plan to opt out of the join mortgage several years later.  I will need the other 2 individuals to refinance the mortgage to pay me back my share of equity. My questions: 1) If the other 2 individuals refuse to refinance the mortgage, but I want my share of equity back, what is my recourse against the refusal? - note that the 2 of them combined for a 67% stake in the house and can vote down my request to refinance. 2) If they do agree to refinance, how do I prove that I have indeed contributed 1/3 of the downpayment and 1/3 of each mortgage payment? Thanks. Helen
 
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