We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage dilemma
legolas
Posts: 3 Newbie
Hi all
I don't know if this has been discussed before. My girlfriend has been separated for some time from her husband (she has her decree nisi) however there is a stumbling block to getting the decree absolute.
She is joint owner of a maisonette with him. He has not paid anything towards the mortgage for some time now. She has had it, vacant, on the market for the past year waiting for it to sell, without any luck. It is a substantial drain on her financial resources.
She is considering what she can do to minimise the impact on her financially. Suggestions are that
1. she default on the mortgage
2. she declares bankrupcy for the mortgage
3. she renovates it and lets it out (no capital to renovate)
4. carries on paying mortgage without any benefit to her.
I would appreciate any thoughts on the matter.
legolas
I don't know if this has been discussed before. My girlfriend has been separated for some time from her husband (she has her decree nisi) however there is a stumbling block to getting the decree absolute.
She is joint owner of a maisonette with him. He has not paid anything towards the mortgage for some time now. She has had it, vacant, on the market for the past year waiting for it to sell, without any luck. It is a substantial drain on her financial resources.
She is considering what she can do to minimise the impact on her financially. Suggestions are that
1. she default on the mortgage
2. she declares bankrupcy for the mortgage
3. she renovates it and lets it out (no capital to renovate)
4. carries on paying mortgage without any benefit to her.
I would appreciate any thoughts on the matter.
legolas
0
Comments
-
5. Drop the price?0
-
Running away from her liability will have serious long terms effects on her credit rating. Auction the place and be done with it.Signature on holiday for two weeks0
-
Be ahead of the market and make it the cheapest comparable, and hopefully secure a buyer and move on.Pawpurrs x
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards