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| T O P I C R E V I E W |
| June.8 |
Posted - 06 January 2011 : 22:14:22
We are pensioners, there is no equity on our house, which is an interest only payment mortgage, there are also 3 charging orders on it, will my house still have to be sold, my husband in an invalid |
| 2 L A T E S T R E P L I E S (Newest First) |
| Richard P |
Posted - 07 January 2011 : 12:44:29
Hi June
welcome to the forum
i know that every one states their home is their home and should be kept.
sometimes going outside the emotional to practical hurts but can be helpfull.
if you are both pensioners, paying an interest only mortgage and a number of charges on the property, you are never actally going to fully own that property. BR and eventally handing back the property could be the right option
I dont know if the house has been adapted to help your husbands needs, but the big question is would you save money and increase the quality of your life by finding suitable rented accomodation.
check right move.com for rented proeprties in your area.
we have just gone through a similar sitation with my father in law, the local council were not too helpfull at first, we had a lovelly lady from age concern come and visit. she gave us all the right words and helped negotiaite with the council.
He has stayed in his own home, with a care package (we match the hours) and the house has been adapted without her help we would have sold dads house and moved into rental accom. |
| Bigal4787 |
Posted - 06 January 2011 : 23:27:11
Hi June,
welcome to the forum, you should find some answers here.
I take it you are both considering bankruptcy, hence your question whether the house will have to be sold.
Basically if it is in negative equity, it won't have to be sold, however an answer can't be given for the longer term as you don't say how much the property is in negative equity.
Additionally regarding the 3 charging orders, are they interim or final?
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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