up the creek, no paddle looks like im gonna drown

mazmc

Hi everyone

I have not posted often and my last post was a while ago but kind of need to vent about my situation. I know what I need to do but its going to be hard times ahead :-(

My marriage broke down completely last year after many years of plodding on pretending that everything was still ok with us and while my OH still lives in the house he makes no contributions to any of the bills(he used to help out a bit even tho not working) so as a result I was struggling to keep up payments on our debts(all in my name) so I am now on a DMP which has been running for a few months and was like having a weight lifted off me.

My fixed rate is due end in october and after speaking to my lender and a couple of IFAs I know that I have no option but to sell up because I cannot remortgage GE cant offer me anything and my rate rises to 3% above base which will make my payment over £1500 a month:eek:

It is only my name on the mortgage and the deeds

I am tempted to hand the keys back because if i cant sell by october I will not be able to pay the mortgage and will be in arrears and they will repossess anyway.

There could be about 27k equity in the house but with the current market and me needing a quick sale I think i will be lucky to cover Estate agent and legal fees. That if I can even afford to market the place in the first place cos I dont have the money for the blimin stupid HIPS:mad:

I have tried and tried to talk to OH but he wont even acknowledge that i have spoken but shows no sign of leaving

I am at the end of my thether and just feel like cancelling the DDs for all the bills and mortgage and walking away even though I have nowhere to go

Sorry for the long post, just needed to get stuff off my chest where I know I wont be judged

thanks for listening

Mazmc

Mrs_Sparkle

Poor you, that sounds like a nightmare. I'm no expert but could you talk to a solicitor about getting your husband to leave the house? If he left would you be able to rent out a room?

Big hugs to you.

savingholmes

I'm afraid I don't have any real advice to offer but wanted you to know that you have my sympathy. It is a difficult situation and it sounds like you have been trying really hard to make things work.:A

If whoever set up your DMP can't offer advice or help, perhaps you should see if citzens advice can help. Also in some areas councils are offering help with debts it may be worth seeing if you can get any help from them.... With regard to OH perhaps you need some legal advice or counselling support via GP to help you deal with and resolve that situation....

Another thought, as an alternative to selling your house could you let a room to a lodger? Would that give you longer breathing room or would it be a drop in the ocean?

I assume you've already tried car booting and e-bay? I've only just started to try this route... Since I joined mid July I've made £40 at a car boot and £60 selling some of our unwanted furniture and curtains to a friend... I still have more items to sell...:D

tomstickland

According to the news a large proportion of people aren't bothering with HIPS.
You'll be a lot better off selling the house yourself compared with handing the keys back to the lender.
Do some looking on rightmove and put yours on for significantly less than similar properties. Selling prices will be a lot lower than asking prices at the moment. Estate agents are desperate so see if you can arrange fees on sale.

The other option is to see if you can have lodgers in.

You need to sort the OH situation too. You can't have a non-paying person clogging up the house.

The only other thing I can think of is seeing if there's any leeway from the lenders.

Gemmzie

Oh Mazmc, what an awful situation for you, have you spoken to CCCS? They might be able to advise you re: selling up or allowing repossession.

mazmc

thanks for all the replies :-)

I am with payplan and I spoke with their mortgage people as well as IFA at work and one that a friend knows and all said sell up. GE money just said they cannot offer me any assistance because of my DMP and high LTV.

I have thought about a lodger but doubt if it would help much and if OH wont go who would want to live in this atmosphere, as it is I fell like a lodger cos i come upstairs to my room almost as soon as i get home from work.

I know i need to see a solicitor but cant afford it, i wouldnt get legal aid because im on a good salary and cant get time off at the moment to see CAB but from what i can see I cant make him move out because this is classed as the marital home. He could have his name added to the register then I couldnt even sell without his say so but I dont think he realises this and am crossing fingers that he doesnt.

If i can sell for a reasonable price I want offer any money towards !!!!!! with my creditors, never know they might accept, will have to wait and see

my mortgage is 194k house valued between 225- 235k so if possible would like to sell for no less than 220k but in this climat i think would be lucky to get 215. Houses round here are still selling pretty quickly but for much less than last year so there is hope that it will sell. I thoght it was ilegal to market a property without a hips, I will have to look into that
hugs to all
mazmc

sammy115

You need to see a solicitor who will serve papers on your OH to vacate the property. Once you have done that (and if need be wait until he leaves the property, change the locks and call the police if he makes a fuss) get a lodger in.

Then put the house up for sale yourself, tomorrow if need be. Don't wait until October - you need to sell ASAP! Don't hand the keys back - you will be handing GE the house on a plate..

Gemmzie

Hmm, can you offer token payments to your creditors for a month or two and use that money for a solicitor?
If you'll be selling and paying them off then they can't really do much as long as you pay something.

MrsTinks

Hang on... he doesn't pay and his name isn't on the deeds or mortgage?

Easy in that case... next time he leaves the house change the locks and leave a note with his stuff on the front doorstep and have a few friends with you in case he gets difficult...

I'd definitely look at getting a lodger in too - it will help you with the bills for now too and the company might be nice?

Definitely get shot of the freeloading ex!

tomstickland

Hips:
http://news.bbc.co.uk/1/hi/business/7538327.stm

Rergarding the price, you don't want to be chasing the market down. Put it on for lowest you can and shift it as quickly as you can.

Use a digital camera to take a load of photos. I've never looked at DIY sales sites, but I'm sure you can market it yourself with only a bit of effort.

mazmc

hi everyone

Well the deed is done I have ordered the HIPS found one that I can pay over 4 months so makes things easier :-)

House will be on the market possibly next week so fingers crossed I can find a buyer and complete before my mortgage payment goes through the roof. Hopefully I can sell for enough to let me pay all fees etc and leave enough to pay a deposit on a flat rental

Would be nice though if i can have enough to make realistic !!!!!! offers to my creditors too but as I need a fairly quick sale I doubt that will happen

My daughter has told me the ex told her he is going in a couple of weeks so another problem hopefully solved :-)

Thanks every one for your responses and I will keep you posted on how things go

big hugs

Mazmc