looking2011
Registered User
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- 11
[moderator note - moved from another thread]
I am in this situation since 2009 and have tried everything both with my non-cooperating ex and the bank without success. I am now paying interest only because I was sick of paying down the principle of the mortgage when effectively half of it as paying down my ex's negative equity balance also. It is very very difficult to get an owner removed from the mortgage and deeds without a sale. I am resident in the house with our kids and he has since remarried and has no interest. The bank got sick of chasing him for signatures and somehow struck him off as a legal signature requirement for deals/interest only. I have paid everything since 2009 but legally he (and now his wife) own half my home. My solicitor has conceded that the only way forward is to get a completely new mortgage and 'buy' the house myself, this is very difficult when a house is in negative equity because what the property is now worth is a bit of a guess. Also, I will lose the precious tracker mortgage. The bank want it put on the market for sale, get bids in to see what its worth and then I can bid on my own house. If (God forbid) I was to unexpectedly die right now, the life insurance would pay off the mortgage and my ex and his wife would now have a paid for house ready to move into/sell.
Its crazy but thats where I'm at right now with the whole mess.
I am in this situation since 2009 and have tried everything both with my non-cooperating ex and the bank without success. I am now paying interest only because I was sick of paying down the principle of the mortgage when effectively half of it as paying down my ex's negative equity balance also. It is very very difficult to get an owner removed from the mortgage and deeds without a sale. I am resident in the house with our kids and he has since remarried and has no interest. The bank got sick of chasing him for signatures and somehow struck him off as a legal signature requirement for deals/interest only. I have paid everything since 2009 but legally he (and now his wife) own half my home. My solicitor has conceded that the only way forward is to get a completely new mortgage and 'buy' the house myself, this is very difficult when a house is in negative equity because what the property is now worth is a bit of a guess. Also, I will lose the precious tracker mortgage. The bank want it put on the market for sale, get bids in to see what its worth and then I can bid on my own house. If (God forbid) I was to unexpectedly die right now, the life insurance would pay off the mortgage and my ex and his wife would now have a paid for house ready to move into/sell.
Its crazy but thats where I'm at right now with the whole mess.