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  • FIRST POST
    sydneybean
    help for brother - suggestions welcome!
    • #1
    • 5th Dec 12, 10:53 AM
    help for brother - suggestions welcome! 5th Dec 12 at 10:53 AM
    hi,
    I have found out at the weekend that my brother has missed some mortgage payments and has had his house repossessed. He has to be out by next Wednesday.

    Obviously there is going to be a lot of things that need to be sorted out and we are in the process of helping him clean the house out, but to be honest he doesnt really understand how things work, he thought that by giving back the house keys he would be made bankrupt. so i am trying to help him get sorted with some of the financial stuff, which isnt easy as he is a very private person so i am going to have to try to help him as best as he will allow.

    first thing i have told him is that he needs to get a new bank account as his current account is with his mortage provider (have looked about and yorkshire building society seems ok. i am hoping that you guys can give me so other ideas as to what else i need to make sure he does?

    the property is in joint names with his ex wife but she has now moved to america with her new partner, i presume that they will still go after her as well as my brother for the shortfall from the mortgage.

    sorry if i am rambling, just a bit worried about him. any suggestions, or information on what will happen next are gratefully received!
    Start Debt Feb15 - 13,004/11,324
    Paid off so far 1680
    Loan 1 -2968 Loan2 -3300
    OD 1 - 550 OD 2 - 400
    Def1 -360 Def2 - 2969 Def3- 777
    Emergency Fund 2.82/1000
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