how to handle mortage arrears..best course of action?

[boudicca]

Hi,

Im attending a solicitor tomorrow but just want to see what others say first who might have some knowledge.

Im in an awful situation with the mortgage. 250k mortgage not being paid since october last year. Lack of payment related to the awful relationship Im in with joint owner. we have one child. He is leaving it totally up to me to handle the mortgage and all bills as he is extremely lazy and drinks all his money anyway, contributing nothing at this point. We are not together, emotional abuse etc going on and Im at my wits end what to do. In my little mind the best thing is to have the bank repossess the house. He's at home minding child full time which im not happy about as he is semi alcoholic or functioning if you like.. Im a full time student trying to get a career to help get away from this life hoping college will help with the childcare (strong possibility). I actually have no time due to the intensity of nursing degree and the care of child when i get home to be organizing anything with the mortgage but i have a day tomorrow.

The situation is escalating in that now the only time he picks a fight is when the child is there rather than when shes in bed and it is affecting her badly shes a wreck as am i.

He refuses to leave the house on any terms hence my indecision on what to do about the mortgage. Its his house as far as he is concerned and I would happily take my child and go except I have no entitlement to housing as I have an interest in a mortgaged house.

Has anyone any advice? I can't afford to pay and he prob would give me something for it if it meant him staying there but it would mean that the child and i remain trapped there as i would continue to be implicated in the mortgage..

What would the best option be in terms of repossession? could we get a write down on the owed amount due to negative equity before bank trys to sell?

Hope this makes sense....

 

[Lucuma]

Hmm it sounds like your best bet is to allow the bank to repossess. If neither of you are working then you might get a debt write-down from the bank on the negative equity (only possibly issue there is that they may look at your nursing degree as meaning you will have earning in the near future and expect you start paying them back once you start earning...). To that end perhaps discuss with the solicitor about whether to let the bank know you are doing a nursing degree or not? Maybe they will find out anyway but it's one to think about.

Once the house has been sold, you will be entitled to a council house. By the way even though having a mortgage means you can't apply for a council house, but it doesn't mean you can't apply for rent allowance you are still entitled to that even though you have a mortgage. Rent allowance is awarded depending on your total income. So look into the cost of rent and how much rent allowance you could possibly get from the social welfare. It might be enough to justify moving out and getting a small apartment for you and your child.

Have you applied for a student grant or are you getting BEA? If you can figure out a way to fund childcare at least 1 or 2 days a week you could cut down the number of days that your child is being minded by your ex, which might help to put your mind at rest (re what you said about his drinking)

 

[Bronte]

This is a very unhealthy situation for all concerned. Particularly the child. Can you not go and live with a relative? Have you explained the situation to a social welfare officer and asked for help on housing there?