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Shylock
Junior Member
199 Posts |
 Posted - 26 December 2011 : 11:43:06
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Hi guys I went bankrupt over 3 years ago and was discharged after 6 months I did have an IPA but this has now finished.
At the time I was going through a divorce and my half of the house should have gone to my ex wife but obviously the OR had it but offered it to her, she never took the house from the OR and it has now been transferred back to me but I don't want it it's in negative equity and the terms of the divorce stated it had to be signed over to my ex wife.
We recently tried to take my name off the mortgage but NRAM have refused as she has a poor credit.
Does anyone have any idea if there is anything I can do or am I stuck on the mortgage with her?
In The Beginning There Was Nothing, Then God Said "Let There Be Light", And There Was Still Nothing But Now Everyone Could See It.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 26 December 2011 : 14:39:07
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I think you may well be but I'm not too sure about it. Hopefully one of the experts can pick up on this.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 27 December 2011 : 17:32:32
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Merry Christmas Shylock and welcome
If I were you, it might be advisable to speak with your Bankruptcy Examiner. Your home, or at least your 50% share could have been classed as a bankruptcy asset and therefore any shortfall to the mortgage company would have been written off. However your divorce settlement left the house to your wife and therefore it is her responsibility. She does not want it and neither do you. Stop making the mortgage repayments and let the house be repossessed. Checking first with your bankruptcy Examiner that any shortfall will be included in your previous bankruptcy.
All the very best.
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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RHB
Senior Member
1159 Posts |
Posted - 03 January 2012 : 06:03:25
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| Are you making mortgage payments now or is your ex wife paying it all? If she is there is nothing you can do until she is in a position to fully take it over. If you are paying & can't afford to then you need to speak to your ex & explain the situation because if you start defaulting the loan falls to her & she will then have to make the payments or get into default. |
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Shylock
Junior Member
199 Posts |
Posted - 03 January 2012 : 10:34:55
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I haven't made any mortgage payments for 4 years I don't have anything to do with the house.
In The Beginning There Was Nothing, Then God Said "Let There Be Light", And There Was Still Nothing But Now Everyone Could See It.
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RHB
Senior Member
1159 Posts |
Posted - 03 January 2012 : 12:35:46
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Then you are stuck on the mortgage with her until she is able to take over the sole mortgage. This should have been mentioned in your consent order, something along the lines of ex wife will endeavor to take over mortgage in her sole name as soon as she is able.
If she does get into difficulties then you don't have to worry as the negative equity has been dealt with as part of your bankruptcy. |
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Shylock
Junior Member
199 Posts |
Posted - 17 February 2012 : 18:09:52
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I spoke to OR and they confirmed I'm not liable for mortgage, I told the mortgage company but they won't change it until an old joint loan that's attached to the house is paid off which seems daft as I'm not liable for that either.
In The Beginning There Was Nothing, Then God Said "Let There Be Light", And There Was Still Nothing But Now Everyone Could See It.
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Mortgage Question post bankruptcy
