In at nutshell ...separated from Husband 2 years he's still in marital Home approx value 135k in neg equity approx25k . I have personal debt of 12k and joint debt 160k . I want to have the house repossessed and file for bankrupcy . I have moved home and living with sick mother with my 11 year old . I just want out of joint mortgage and debts. Ex husband can't afford to buy me out . All advise welcome
well you can stop paying and if you go bankrupt then you will not eventually be liable for any shortfall from the property, but it does not get repossessed automatically, the mortgage company will at least give him the option of continuing to pay the full amount and if he can then in the mean time you will stay attached to the property and mortgage. (although you wont be liable in the end) so there is no clear way to get of the mortgage if he wants to keep the mortgage going, will he want to or be able to do that
ok so if both go bankrupt and he moves out of the house and you both stop paying it then yes the property would be repossessed and the shortfall would fall into both your bankruptcies
I just want out of joint mortgage and debts
Posted - 26 February 2012 : 18:57:18
