Hi,
Im not sure if I am writing on the right part of this site but I was recommended this site to get some advice.
Me and my husband bought our house in 2006 in the boom time for stupid money but we got it off the strength of his wages as he was on a great wage anyway since then we split up and in oct 2010 he booked to go to Australia for 3month (so he told me) so we both applied to the EBS for an interest only mortgage for 1 year so that we could rent out the house for the year the rent would cover the mortgage for us and after the year we would sell or decide what to do with the house. after a couple of months the tenants moved out and didn't pay any money so the best option at the time was that I move back in as husband was still in Australia, over 3 years on and ex is still in Australia no contact and doesn't want to be found, ex doesn't contribute towards the house mortgage etc and doesn't want to have anything to do with me or the house. after the year of interest only the mortgage went back up to full amount of 1700 approx. per month which obviously I couldn't afford and I have been in contact with the EBS all along explaining the situation they are hounding me for more threatening repossession etc etc, I cant sell the house or change payments etc as I need ex signature which is not possible as no contact,after so long of getting nowhere with the bank I contacted new beginnings and basically new beginnings have acted on my behalf contacted the bank mabs and an insolvency company they deal with and between them I have now been given 2 options, the first is to come up with the full 1700 per month going forward but ex will still always own half the house or have control etc even though he is not contributing or the second option is that I go bankrupt carry on paying the bank the money I am currently paying them for the next 5 yrs (it should be 3 but because of the arrears built up ebs will get it for 5yrs) and try rent someone where else which in turn will end up costing me so much more when im already struggling paying now. the 2 options are just no help to me at all, my hands are tied and I really don't want to leave my house as I have kept it going for a good few years now and looked after it inside and out plus its my home id hate to leave it. I cant rent out rooms as I have a reason for this. I have a new partner now that will try help me so I might be able to come up with more money per month but he has his own issues with ex/house/child, so this might be a solution but what would be the point him putting money into something the ex could just come back for!!
I feel like really giving up and just handing back the keys and walking away from the house as it would be cheaper to rent somewhere else, my ex is getting away with this in Australia and doesn't care, does anyone know what is the worst that can happen to me if I do this?? If anyone has any advice I would really appreciate it please??
Thanks in advance!
Im not sure if I am writing on the right part of this site but I was recommended this site to get some advice.
Me and my husband bought our house in 2006 in the boom time for stupid money but we got it off the strength of his wages as he was on a great wage anyway since then we split up and in oct 2010 he booked to go to Australia for 3month (so he told me) so we both applied to the EBS for an interest only mortgage for 1 year so that we could rent out the house for the year the rent would cover the mortgage for us and after the year we would sell or decide what to do with the house. after a couple of months the tenants moved out and didn't pay any money so the best option at the time was that I move back in as husband was still in Australia, over 3 years on and ex is still in Australia no contact and doesn't want to be found, ex doesn't contribute towards the house mortgage etc and doesn't want to have anything to do with me or the house. after the year of interest only the mortgage went back up to full amount of 1700 approx. per month which obviously I couldn't afford and I have been in contact with the EBS all along explaining the situation they are hounding me for more threatening repossession etc etc, I cant sell the house or change payments etc as I need ex signature which is not possible as no contact,after so long of getting nowhere with the bank I contacted new beginnings and basically new beginnings have acted on my behalf contacted the bank mabs and an insolvency company they deal with and between them I have now been given 2 options, the first is to come up with the full 1700 per month going forward but ex will still always own half the house or have control etc even though he is not contributing or the second option is that I go bankrupt carry on paying the bank the money I am currently paying them for the next 5 yrs (it should be 3 but because of the arrears built up ebs will get it for 5yrs) and try rent someone where else which in turn will end up costing me so much more when im already struggling paying now. the 2 options are just no help to me at all, my hands are tied and I really don't want to leave my house as I have kept it going for a good few years now and looked after it inside and out plus its my home id hate to leave it. I cant rent out rooms as I have a reason for this. I have a new partner now that will try help me so I might be able to come up with more money per month but he has his own issues with ex/house/child, so this might be a solution but what would be the point him putting money into something the ex could just come back for!!
I feel like really giving up and just handing back the keys and walking away from the house as it would be cheaper to rent somewhere else, my ex is getting away with this in Australia and doesn't care, does anyone know what is the worst that can happen to me if I do this?? If anyone has any advice I would really appreciate it please??
Thanks in advance!