M
mestuck
Guest
Hi,
I am getting married in January. My fiance already owns a house that he bought at the height of the boom and currently its in €70,000 (or higher) negative equity. When we met, he also had a high overdraft and I took out a loan to cover this for him.
At the moment, my fiance is expecting to be made redundant. If he is, he will not have the income to cover his mortgage and I will be unable to cover it. I expect he will have to walk away from the house as it is not in a suitable place or of a good enough size to live in with a family. I don't want to throw good money after bad and I would be able to get a mortgage in my own name if we decided to start over.
Can anyone advise me on the responsibility of a wife towards her husbands debt? In other words I am wondering if is forced to walk away from this house after we are married, will I be legally obliged to carry the debt? Also, my fiance is a resident of Northern Ireland.
I am getting married in January. My fiance already owns a house that he bought at the height of the boom and currently its in €70,000 (or higher) negative equity. When we met, he also had a high overdraft and I took out a loan to cover this for him.
At the moment, my fiance is expecting to be made redundant. If he is, he will not have the income to cover his mortgage and I will be unable to cover it. I expect he will have to walk away from the house as it is not in a suitable place or of a good enough size to live in with a family. I don't want to throw good money after bad and I would be able to get a mortgage in my own name if we decided to start over.
Can anyone advise me on the responsibility of a wife towards her husbands debt? In other words I am wondering if is forced to walk away from this house after we are married, will I be legally obliged to carry the debt? Also, my fiance is a resident of Northern Ireland.