Just looking for some opinions as to if this is a good idea .
The background separated over 6 years and 3 kids currently living in the family home . We will be moving towards divorce soon and the family home needs to be sorted out . Up to this mortgage has been paid by both and is up to date and not in arrears . This is not sustainable going forward for various reasons .
I work part time and i am not in the position to go back to full time work at present . The family home has a large mortgage every month that i cannot afford to take over even with maintenance payments etc . Its a large house and although i love it i am trying to be practical about things and i simply cannot afford the mortgage on my own .
At present with 3 evaluations the house is just about not in negative equity and would make enough if sold to cover mortgage and costs but there would be no major equity .
As its the family home would i be mad to sell, everyone one keeps telling me i am entitled to stay there etc and i would be mad to contemplate selling and starting again with nothing . I would have to rent as would not get a mortgage at present but the way i look at it in my head is it would be a clean break and a new start for everyone . It was always going to have to be sorted on divorce and at this stage i just want to move on .
Opinions please am i mad like everyone says or is this the practical solution .
The background separated over 6 years and 3 kids currently living in the family home . We will be moving towards divorce soon and the family home needs to be sorted out . Up to this mortgage has been paid by both and is up to date and not in arrears . This is not sustainable going forward for various reasons .
I work part time and i am not in the position to go back to full time work at present . The family home has a large mortgage every month that i cannot afford to take over even with maintenance payments etc . Its a large house and although i love it i am trying to be practical about things and i simply cannot afford the mortgage on my own .
At present with 3 evaluations the house is just about not in negative equity and would make enough if sold to cover mortgage and costs but there would be no major equity .
As its the family home would i be mad to sell, everyone one keeps telling me i am entitled to stay there etc and i would be mad to contemplate selling and starting again with nothing . I would have to rent as would not get a mortgage at present but the way i look at it in my head is it would be a clean break and a new start for everyone . It was always going to have to be sorted on divorce and at this stage i just want to move on .
Opinions please am i mad like everyone says or is this the practical solution .