I ahve a shared ownership property which I can not afford anymore. I own this property with my ex partner, I pay half of the rent and mortage and he pays the other half of the rent and mortage, I no longer live in the property and neither does he, I am trying to rent the property but the housing association are not being very helpful, I also no longer have full time employment, but i am actively seeking work.
I simply cannot afford these payments and thwe housing association are no help to me at all. i can see no other way out apart from declaring myself bankrupt...Please advise. Natalie Whitmore
Is there are equity in the property? If so, have you considered selling? Do you have any unsecured debts? If so how much?
Bankruptcy will deal with unsecured debts but not your mortgage unless the house was sold or repossessed, and then any shortfall could be dealt with in bankruptcy.
Please post the answers to my questions so we can help further or contact an expert to chat it through.
I ahve a shared ownership property which I can not afford anymore
Posted - 03 October 2012 : 13:18:18
