I'm at my ends wit.
My husband and I have 2 investment properties which we bought about 4 years ago. We also have our own joint mortgage. On and off throughout the years we have struggled to keep up with 3 mortgage repayments with tenants moving in and out and now my husband has been cut to 2 days a week and we have been unable to rent one of our houses which is old and nobody wants to rent anymore as there is such fierce competition with all the new houses to rent on the market.
We already pay 300/400 towards one investment mortgage every month but we cannot pay anything now towards the second investment property. I have looked at all options, mortgage only (which is very little difference), selling (can't sell for last 2 yrs, now in serious negative equity, no-one wants to rent it).
If the bank end up repossessing my husbands investment house, will the judge allow a repossession on our joint home house, considering we have 3 children, my husband's reduced hours and our financial circumstances. We have never missed a paymet on our home house.
Appreciate your time
My husband and I have 2 investment properties which we bought about 4 years ago. We also have our own joint mortgage. On and off throughout the years we have struggled to keep up with 3 mortgage repayments with tenants moving in and out and now my husband has been cut to 2 days a week and we have been unable to rent one of our houses which is old and nobody wants to rent anymore as there is such fierce competition with all the new houses to rent on the market.
We already pay 300/400 towards one investment mortgage every month but we cannot pay anything now towards the second investment property. I have looked at all options, mortgage only (which is very little difference), selling (can't sell for last 2 yrs, now in serious negative equity, no-one wants to rent it).
If the bank end up repossessing my husbands investment house, will the judge allow a repossession on our joint home house, considering we have 3 children, my husband's reduced hours and our financial circumstances. We have never missed a paymet on our home house.
Appreciate your time