My name's MUD
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Yes you need legal advice, it sounds like he is just being awkward to me, if he has gone, then why wouldn't he want his share of the house? Take it he has gone back to his parents rent free.
Well I think you should become landlord here, and make use of an opportunity to let room(s) out in your home to make some cash. This will ease a financial burden temporarily and introduce some changes about the place. And a change is as good as a rest. If he sees that you are letting rooms he may then sell his part.
At that point you should re mortgage, pay £600 to get his name removed and take an interest only mortgage or longer term in order to keep the property. No doubt you have lots of equity in it assuming you have been there 7 or more years or so... It may be worth selling if you downsize you loose the letting opportunity stop gap.
In the meantime keep paying as you will affect your cretit ratings, you must talk to the lender FIRSTLY! Speak to them and they may offer a payment holiday or they might contact your partner for you.
I would't rent, what and let some landlord get rich at your expense! PAH! |
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nanook570
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hmm,i would go and see a solicitor on where you stand with this.It is both of your responsibility to pay for the mortgage as it is in both of your names,if either of you stop paying you could lose the house and your names could be blacklisted.The best thing would be to put the house up on the market and you get half the money of the sale of the house as it is half yours.I've never been in the same position so this is all i can advise you on. |
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LillyB
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If you default you lose your house, the equity in your house and your credit rating. You are probably going to have to give him half the value of the house unless you can prove he has not contributed so I would ask him to buy you out. This is obviously not going to be an option for him. I think you need to take legal advice. |
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♥ღ♥yorkshire lass♥ღ♥
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depends if home is in both names.see solicitor if he wont pay.if you default you will be chased for the money,the home will be reposessed and depending what the home sells for,even if less than value,you will still have to pay the mortgage and the shortfall.
not to mention your credit rating!.
its not that easy to hand over a house,il tell ya! |
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bostonianinmo
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1. You'll lose the home to foreclosure.
2. Your credit (and your former partner's) will be trashed.
3. If there is a shortfall in the payoff after the foreclosure you may have a significant debt to deal with.
A better bet would be a suit for partition. If successful it will force a sale of the property and division of the equity, if any. At that point, you could then buy your ex-partner out. Consult with a solicitor for guidance on that. |
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angler
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If it is a joint mortgage you both pay.Inform your solicitor when he stopped paying he's share.You would be better selling.Again
your solicitor will let you have a better idea who gets what.If you
stop paying then the mortgage company takes possession.You
will also be blacklisted for credit.Not nice.But for your own sanity
you know the current situation can't go on. |
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Catwhiskers
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the house would be repossessed so neither of you wouldnt receive any money back on it.
You would also be blacklisted from taking out any more loans or mortgages for 10 years.
Your best bet is to see a lawyer and take steps either to have your ex pay half the mortgage (which he is entitled to do if it is half his) or to get him to agree to a sale. |
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isaulte
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If you default on this mortgage you will find it incredibly hard to get one in the future.
Make an appointment at the Citizen's Advice Bureau, they will be able to discuss your options with you. |
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the countess
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see a solicitor and dont feel bad about it your entitled to your life. some solicitors do a free advice clinic or look up citizens advice bureaux.. he sounds like hes bullying you . dont defaualt you are in a strong positionhes trying to make you give in |
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shih tzu lady
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Oh please dont default on your mortgage. It will affect your future credit rating and you would probably not be able to get a mortgage again. Dont let this split wreck your whole future. Seek some advice from a solicitor and then make a decision as to what you would like to do. There will be a solution somewhere, but dont jump in and do the wrong thing or life will be even more difficult. Good luck. |
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