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Sandra.hr
Starting Member
8 Posts |
 Posted - 22 April 2012 : 18:21:18
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| I currently live in a house that is under both my and my ex partners name. He went bankrupt in January 2011, the bankruptcy has now been discharged but the court is trying to force sale of the house where I still live with our son. I have been paying the mortgage on my own ever since buying the property, he has never made a payment and does not live there any more. What can I do to prevent sale ? |
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debtinfo
forum expert
2826 Posts |
Posted - 22 April 2012 : 18:39:10
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| is there any equity in the property |
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Sandra.hr
Starting Member
8 Posts |
Posted - 23 April 2012 : 22:43:33
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[quote]Originally posted by debtinfo
is there any equity in the property
[there is equity in property, we were not married, so its 50% each, told by previous solicitor./quote]
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Sandra.hr
Starting Member
8 Posts |
Posted - 23 April 2012 : 22:45:31
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there is equity in the property, we are not married, so been told its 50% each. even though i have lived the last 3 yrs with son, on our own and i have fully paid the mortgage.
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debtinfo
forum expert
2826 Posts |
Posted - 23 April 2012 : 23:03:03
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| you need to write to the trustee of the bankruptcy, pointing out all the money you have paid in and what he has not paid and a timeline of events |
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Sandra.hr
Starting Member
8 Posts |
Posted - 24 April 2012 : 21:24:28
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I have wrote to them many a time and expressed this, they say they can still force sale on the property to pay off his debts. which will leave my son amd myself homeless, i do not have enough equity to get another mortgage. i'm 50yrs old, my son is autistic. why i work part time. i took a loan to pay for a solicitor to fight my cause, all i got was a stay on it all till june 2012, which is soon.
can not afford to pay out any more for solicitors. it's all very unfair.
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Sandra.hr
Starting Member
8 Posts |
Posted - 24 April 2012 : 21:31:41
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i have wrote to them many a time, over the last year, have a stay on my home till june 2012 through courts, they say they can still force sale on house, which will make myself and son homeless, i'm 50yrs old, will not have enough equity to remortgage,we only live in a two bed terrace, can't downsize,can't afford to remortgage to pay his debts off, he left 3 yrs ago. he's wiped his debts off and its come back on us, not fair, the system stinks. my son has special needs, they don't care that we will have no home.
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pcoventry
Junior Member
United Kingdom
235 Posts |
Posted - 25 April 2012 : 18:04:51
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I've just see a video where it states you can get someone to buy your interest in your home for £1.
Not sure if this was a joke or not.. It was a website similar to this. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 April 2012 : 18:19:12
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That no longer applies unfortunately and was only for homes in negative equity.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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RHB
Senior Member
1159 Posts |
Posted - 28 April 2012 : 12:38:11
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| How much equity are we talking about? |
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Sandra.hr
Starting Member
8 Posts |
Posted - 28 April 2012 : 20:42:36
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approx 70 thousand, with 50% split, which makes 35thousand
each, his bankruptcy, not mine, also i have paid the mortgage alone for the last 3years, which i'm asking for the interest. did receive a letter today, as i could through family, raise 15thousand, they declined, and want 28thousand + costs, which probally take upto the 34thousand, the debt, having a laugh, i declined.
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RHB
Senior Member
1159 Posts |
Posted - 29 April 2012 : 08:25:53
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| Hold tight, with house prices as they are they may well change their minds, Did you repay any capital in those three years as this will come off their share of the equity or are you on an interest only mortgage in which case it would remain 50/50? |
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Sandra.hr
Starting Member
8 Posts |
Posted - 29 April 2012 : 18:40:05
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I am on a repayment mortgage, so yes, have paid off 3yrs worth,had house valued june last year, and lost 20grant, as bought house 5yrs ago, so my house worth less than what i[we] paid.will have revalued if they take me to court. sent letter now, as they are asking what my son's 'special needs' are??? he has ASD and other health issue's.
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RHB
Senior Member
1159 Posts |
Posted - 29 April 2012 : 18:55:07
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| Whatever you have paid for those 3 years as the REPAYMENT part needs to be taken off your ex's 50% of equity - you need to get the paperwork together for the trustees. |
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RHB
Senior Member
1159 Posts |
Posted - 29 April 2012 : 18:56:29
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| Losing equity due to house prices falling actually works in your favour right now, |
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Sandra.hr
Starting Member
8 Posts |
Posted - 01 May 2012 : 21:32:27
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ok, i will fight for the three years i have paid, and will also let them be aware, lose of equity due to house prices.
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How can I prevent sale of my home ?
