Ex not co-operating, bank wants me to sell

[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.

looking2011 said:

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.

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Looking2011 this is exactly the reason why I'm not prepared to just keep paying the mortgage for the next 30 years despite as Bronte points out above, the fact that at the end of the 30 years my ex might not necessarily be able to come and stake her claim on half the house. But it's just such a risky position to be in for the next 30 years and makes it so hard to move on with your life (e.g. if you want to get married), knowing that if you die the house is paid for and falls into the lap of your non-contributing ex

looking2011 said:

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. .

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Won't you need your ex's signature to sell the house? Or are the bank willing to put it on the market without his signature?

Yes that is also a problem, you need the other co-owner's signature to sell.However, that is an easier task as a judge will force that when you can show ample evidence of non cooperation.

What kind of evidence would you recommend collecting?

I met with BOI today an outlined various options regarding my property which is in severe negative equity and the other mortgage holder has abandoned it since 2009.
It was v enlightening regarding their views. Write downs or write off would not be discussed, I was told it is BOI policy not to even entertain the option.
I was given one option only and that is to sign an agreement to repay two thirds of the overall monthly due amount to show repayment capacity for the next two years. They will review things after 2 years and can then discuss the possibility of getting the 2nd mortgage holder off the mortgage. When I asked why they have not chased the 2nd person who has abandoned this mortgage despite proof that this person had enough capital venture in the last 12 months to start a new business, they responded 'We can't make him'. Incredulous.
One thing is certain though, they (two representatives) repeatedly said they are under pressure from the Central Bank to do deals and that they are not interested in repossing my property as I am paying over interest only.
Apparently that is not enough though despite me appealing the ASU decision and proving what my affordability actually is.
I feel that today's meeting was just an attempt to get any deal in so that my mortgage can be ticked off as 'restructured' and that can be reported to the Central Bank.