A very foolish friend... Is he screwed?
08-16-2011 06:23 PM
A very foolish friend (against all advice and counsel) put his GF on the title to his home. She got a home equity loan for $80K and spent some of it on home improvements, maybe half.
Of course they're breaking up. At any rate he's not on the loan but she owns half of the house. She's trying to convince him the only solution is selling the house. I don't believe she can force him to sell the house at all. She's not going to ruin her credit and has just about enough in 401K savings to satisfy the loan if sued by the bank.
Aside from buying her out, via arbitration, what are his options?
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