I am interested in buying out my girlfriend for our house?
My girlfriend and I bought a home in Ohio 3 years ago for $ 240,000 it was a 30 year fixed mortgage but with a pretty high interest rate. Our monthly mortgage is around $ 2200. We are current in our payments. We have agreed to separate.
We also agreed to sell the house.
However, I am interested in buying her out. The deed is on both our name but the mortgage is only in her name. Can we agree to refinance and place the new loan in my name only? What portion would be owed to her? Also we have checked and there is still no equity, we are still paying the interest. Do I pay her back just the interest paid meaning half of the morgage that was paid for the past 3 years?