My buddy is in a bit of a situation and we need some advise. My friend moved in with his new fiancé and they refinanced the mortgage out of her exs name and he basically co signed the refinance because she couldn't afford to mortgage. Now she's has Brocken off their relationship. The mortgage is for 116k and the house is appraised for 118k so no equity. Is there a way my friend can get his ex off the mortgage since she is the primary on the mortgage? Is there a way to refinance her off the mortgage since there is no equity in the house. Selling would put him up side down after fees with no mortgage correct? The mortgage states one of them needs to be the primary resident. My friend doesn't want to live there and his ex does not have the capability to make the payments on her on. Please any advise would be greatly appreciate. When he told me of his situation I immediately knew this would the place to go.
