Woman Says 'We're Four Months Behind' On $465,000 Mortgage Bought With Ex — And Has $25,000 In Debt On Top Of It

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On "The Ramsey Show," Janelle from Raleigh, North Carolina, said she and her ex are four months behind on a $465,000 mortgage. She explained that she had built up $25,000 in debt and now faces possible foreclosure.

The loan, still in both names, has become the centerpiece of a financial and legal standoff. In June, co-hosts George Kamel and Ken Coleman heard Janelle describe the fallout and ask what to do next.

Mortgage Still Standing After Breakup

Janelle said she and her ex bought the property together, but they split about a year later. She moved out and began renting elsewhere, while both names remained listed on the mortgage and deed.

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"We're four months behind," she told Kamel and Coleman, adding that they had tried to sell the home but still have not found a buyer. The outstanding balance remains at $465,000.

Coleman noted the legal stakes, saying, "You are legally obligated to pay that [mortgage], whether you've moved out or not. Her ex had initially covered payments but eventually stopped after she left. Janelle also halted contributions, explaining that rent and other expenses left her strapped.

Considering A Short Sale

"We're in the process of asking the mortgage company for a short sale to see if that's even possible," Janelle said, noting $12,000 in missed payments and no offers on the table.

Meanwhile, Kamel warned that catching up on payments is critical to avoiding foreclosure. He advised halting 401(k) contributions and unnecessary spending, using all available funds to cover the arrears.

"You need to act like everything is on fire," he said, adding that either a quick sale — even at a lower price — or additional income could be the best path forward.

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Buying A House With A Partner

According to the National Association of Realtors, 6% of all recent home buyers were unmarried couples and the highest share of unmarried couples came from younger millennials, where 13% of buyers were unmarried partners.

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Unmarried couples who co-own homes face real risks — especially if the relationship ends unexpectedly. In North Carolina, for example, unmarried partnerships receive no special legal protections, making early planning critical. Experts recommend formal agreements like cohabitation or property agreements to clarify ownership, expense-sharing and, exit plans.

Title structures also matter — joint tenancy provides equal ownership and automatic survivorship, while tenancy in common allows for unequal shares and different inheritance paths. These legal safeguards help prevent disputes that can echo the complexities of divorce.

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This article Woman Says 'We're Four Months Behind' On $465,000 Mortgage Bought With Ex — And Has $25,000 In Debt On Top Of It originally appeared on Benzinga.com

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