MLC, H and me

[Mila]

CW - This is a big decision. But you are right, first thing that you should do is to check how abandoning the house would reflect on your credit rating.

However you both jointly own the house and are responsible for the payments, so if you leave it he will have to step up and take care of it or his credit rating would suffer as well. Do you think that he would walk away from it?

If you both abandon the mortgage, the bank will reposes the house and try to sell it, even at a loss. You may still be liable for the difference between what the bank gets for it and what you owe. I think time to talk to a lawyer about that.

Another option would be to refinance the house and reduce your monthly payments, would that be possible?

I would gather as much information as you could and have a "business meeting" with your H and present him with the facts and figures and some options. It's in his interest as well to get this sorted out.

I don't think that he would take this that you are giving up on marriage....it's just matter of survival for you and your kinds and you can tell him that.